LONDON (Alliance News) - LGO Energy PLC Thursday said that production testing has started on well GY-675, the first well drilled on Pad-5 in the Goudron Field in Trinidad.
LGO said that after an initial clean up, the well delivered a natural flow rate of approximately 325 barrels of oil per day, and was completed over a 95-foot interval in the C-sand reservoir below 1,750 feet true vertical depth measured below sea level. It is now undergoing a series of production tests.
"We are delighted that the first of the Pad-5 wells has been completed successfully and is giving early indications of excellent flow characteristics. Elsewhere on the field GY-678, the currently development well, is at 1,484 feet measured depth where the 9 5/8-inch casing is being set. The well should reach planned total depth in the next few weeks," Chief Executive Neil Ritson said in a statement.
Shares in LGO Energy were trading up 4.3% at 1.56 pence Thursday morning.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.