UK-based LGO Energy said Monday that its latest development well, GY-675, at its onshore Goudron Field development in Trinidad encountered a hydrocarbon pay zone.
The well reached total depth at 3,660 feet measured depth on June 30, 2014, LGO said.
Electric log interpretation from both the Goudron Sandstone and C-sand intervals confirm the presence of recoverable hydrocarbons with the net hydrocarbon pay in the C-sand main target estimated at 260 feet.
The oil bearing C-sand interval was encountered between 2,015 and 3,020 feet measure depth.
Net oil pay in the Goudron Sandstone was encountered between 630 and 1,560 feet with an estimated 330 feet of total net pay.
“These observed net pay zones are in line with expectations for this well,” LGO said.
The well is the fourth of seven wells currently planned for 2015 and the first well from drilling Pad 5 in the north-east of the field.
Well GY-675 has now been successfully cased for future production and the rig has been moved to the second location on Pad 5 where it has spudded the fifth well of the 2015 program, GY-676.
LGO plans to drill GY-676 to a total depth of 3,640 feet measured depth at a location 325 feet north-west of the surface location.
Well GY-676 is once again targeting a C-sand reservoir interval and the top Gros Morne sandstone reservoir is anticipated at 1,935 feet measured depth, LGO said.
“Our C-sand drilling program at Goudron is progressing extremely well and we are now on our fifth well in 2015. In parallel, the production testing of the first three wells drilled this year is providing some encouraging results and we hope to have final flow rates from that work shortly. Additionally the recently published reserves assessment shows we have significant upside to pursue after the current seven well drilling campaign,” LGO chief executive Neil Ritson said.
LGO holds a 100 percent operating stake in the Goudron Field.