LONDON (Alliance News) - LGO Energy PLC Thursday said electric logs over the Goudron and C-Sand intervals on the Goudron field in Trinidad have confirmed the presence of recoverable hydrocarbons after it drilled the last well on Pad 4, which will be brought into production in the next few weeks.
LGO said the electric logs have confirmed a net oil pay in the Goudron sandstone of 492 feet and a net hydrocarbon pay of 277 feet. The C-Sand, which was the main target, had a net hydrocarbon pay of 277 feet.
The company said the net pay zones are "in line with the prognosis" for the GY-674 well.
Those electric logs were conducted via the drilling of the GY-674 development well on the Goudron field. The Goudron sandstone was encountered between 520 and 1,730 feet measured depth and the C-Sand interval was encountered at 2,565 feet measured depth. The well was drilled to a total depth of 3,458 feet.
Well GY-674 on Pad 4 has now been successfully cased for future production and the rig will be moved to drilling Pad 5 where it is expected to spud the fourth well of the 2015 drilling programme, GY-675. Well GY-675 is again targeting a C-sand reservoir interval and the top Gros Morne sandstone reservoir which is in the upper C-sand.
Well GY-674 was the last well to be drilled on Pad 4, which is expected to commence production "in the next few weeks," said Neil Ritson, chief executive of LGO.
Still, LGO shares were flat at 3.90 pence per share on Thursday morning.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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