Continental Focus, International Reach

Ogo-1 Beats Pre-drill Expectations

Wednesday, November 20, 2013

Afren plc, Lekoil Ltd., and Optimum Petroleum Development Ltd. suspended drilling operations at the Ogo prospect on Nigeria’s OPL 310, after encountering hydrocarbons that exceeded pre-drill expectations. The Ogo-1 well is a four-way dip-closed structure in the Turonian to Albian sandstone reservoirs and was targeting 78 million boe of gross P50 prospective resources.

While circulating bottoms up at total depth the drill string parted at 3,390 ft and during good progress towards recovery of the drill string from the well bore, the well took a hydrocarbon kick. After the kick was safely controlled, the partners considered it prudent to move to permanently secure the well.

The drilling program included a side-track, testing a new play of stratigraphically trapped sediments that pinch-out onto the basement high targeting 124 million boe of gross P50 prospective resources. In total, the partners were targeting 202 million boe of gross P50 prospective resources.

The Ogo-1 well was drilled to a total measured depth of 10,518 ft  and encountered a gross hydrocarbon section of 524 ft, with 216 ft of net stacked pay. The sidetrack, the Ogo-1ST, reached a total measured depth of 17,987 ft and encountered hydrocarbon intervals in the same Turonian, Cenomanian, and Albian reservoirs that were successfully drilled and logged at the Ogo-1 well. In addition, the syn-rift section encountered a 280 ft true vertical thickness gross hydrocarbon interval.

Based on the well data, the partners estimate the P50 to P10 gross recoverable resources range to be significantly ahead of pre-drill expectations at 774 to 1,180 million boe across the Ogo four-way dipped closed and syn-rift structures. Additional upside potential is expected in the syn-rift play.

The partners intend to drill an appraisal well in H2 2014, ahead of development planning and will also increase 3D coverage on the block, currently covering only 25 % of the block, to define further prospectivity.

Commenting, Lekan Akinyanmi, Lekoil’s CEO, said, “Today’s announcement confirms a very significant upgrade to the resources at Ogo compared with our pre-drill expectations. We will continue to work with our partners to progress the Ogo discovery while also focusing on examining other opportunities to build our portfolio of assets. Ogo has provided us with a flying start to our strategy to build a substantial, Africa-focused oil and gas business.”


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