Karoon Gas confirmed an oil reservoir Monday at its Echidna-1 exploration well at the Santos Basin in offshore Brazil.
Wireline pressure data from across the Paleocene and Maastrichtian aged reservoir intervals confirmed a 698 foot gross oil column, Australia-based Karoon said.
Physical oil samples recovered measured a 39.5 degree API oil gravity.
Wireline results from the Paleocene reservoir interval indicate a gross thickness of 246 feet, 177 feet net, with an average porosity of 25 percent.
The Maastrichtian reservoir interval has a gross thickness of 370 feet, 164 feet net, with an average porosity of 21 percent.
A deeper Maastrichtian oil column was also intersected in a separate 23 foot sand with an average 23 percent porosity.
“The interpretation of oil is supported by natural shows and a pressure-defined oil gradient,” Karoon said.
The Echidna-1 exploration well is located in Block S-M-1102, on the east side of the “Emu” salt diapir complex.
The well tested a similar salt flank play first proven by the Kangaroo-1 well and later confirmed by Kangaroo-2 and its two sidetracks.
The company said the results of Echidna “further substantiate the validity of the salt flank play.”
Karoon holds a 65 percent operating interest in the jointly held block S-M-1102
Ontario-based Pacific Rubiales Energy holds the remaining 35 percent working interest.
The joint venture will conduct a production testing program over the Paleocene reservoir section that is expected to start later this week.
The Maastrichtian reservoir section will be tested as part of the follow up drilling program.
“The Echidna discovery represents another significant achievement for Karoon. Echidna adds incremental resource to Karoon’s discovered Kangaroo oil field which further supports Karoon’s ambitions to develop an integrated production hub in the Santos Basin,” Karoon managing director Robert Hosking said.