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Friday, November 25, 2022
Two new Jubilee South East production wells are planned to be drilled before year end, according to Wissam Al-Monthiry, managing director of Tullow Oil in Ghana. A further two wells, one a producer and the other a water injector, are planned to be drilled in H1 2023. The four wells are expected to add material production in 2023 and beyond.
In related news, in its latest operational update, Tullow states it delivered on its operating and financial targets. As relates to Jubilee, four wells were brought onstream this year; two new water injectors, a new producer and a previously drilled water injector.
On its TEN asset, production through the end of October was c.12.6 kbopd net to Tullow. Two wells have been brought onstream this year; a new Enyenra producer and a previously drilled Enyenra water injector, helping to offset the natural decline in the Enyenra field.
The second of the two wells drilled in the Ntomme riser base area (Nt11-P) found poorer than expected reservoir quality and did not encounter economically developable resources. The Joint Venture partners continue to evaluate the results of these wells to optimize future drilling plans on the TEN fields.
Rahul Dhir, CEO, Tullow Oil plc, commented: “In the first 10 months of the year, Tullow has delivered on its operating and financial targets as we successfully deliver our business plan despite the disappointment of the two strategic Ntomme wells. Our producing assets continue to perform well, in line with expectations, and as a result we have narrowed our full year production guidance to 61-62 kboepd. We continue to strengthen our balance sheet, with free cash flow guidance for 2022 increased to $250 million and gearing on track to be less than 1.5 times by the end of the year.”
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