LONDON (Alliance News) - LGO Energy PLC on Wednesday said the first of seven planned wells at the Gourdon Field in Trinidad has been spud.
LGO said Well Services Petroleum Co Ltd's Rig-70, under contract to LGO, has been mobilised to the recently constructed drilling pad and commenced drilling operations on well GY-672 on Tuesday.
LGO is planning to drill wells GY-672, 673 and 674 back-to-back on pad 4 at the site, before the rig is moved to pad 5 for the drilling of a further four wells.
"Drilling is now underway in a seven well program which is expected to give comparable results to the successful eight wells drilled 2014. Infrastructure, well recompletion and maintenance operations are also continuing apace and we remain excited about the prospects for the field, which has extremely robust economics even at low oil prices," said LGO Chief Executive Neil Ritson.
Shares in LGO were down 1.5% to 2.605 pence on Wednesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
