Tuesday, January 14, 2014
Gulfsands Petroleum completed operations on its third exploration well in the Rharb drilling campaign in Morocco. The well, the Ben Fidal 2 (BFD-2) was drilled to a planned total depth of 1,025 meters over a period of 10 days. The top of the interpreted channel fill sequence was encountered at approximately 890 meters MDBRT and the base of the channel fill sequence was encountered at approximately 950 meters MDBRT.
Significant gas shows were encountered through the 60-meter channel fill sequence, with the strongest show occurring at the base of the channel fill, consistent with the geological model. However, wire-line log interpretation suggests that the channel-fill section is likely to be very finely laminated sand and shale and with uncertain production performance. Notwithstanding the significant gas shows encountered, following careful consideration of a number of economic and technical factors the company has decided to plug and abandon the BFD-2 well as a non-commercial gas discovery.
The post-drill review of the well result suggests that a gas accumulation is likely present at the BFD-2 well location, but that additional evaluation methods are required in order to more fully evaluate the commercialization of these finely laminated reservoir sections.
Mahdi Sajjad, the company’s CEO commented: “We are encouraged that the BFD-2 well appears to have confirmed the geological model and encountered gas in the objective section. We will be undertaking further studies, including the results of this well, which may lead us to more robust evaluation methods and the potential commercialization of these finely laminated reservoirs.”