OGX hits pay in second Campos basin well

Brazilian independent OGX Petróleo e Gás Participações has found a second oil bearing interval at well 1-OGX-2A-RJS, in the BM-C-41 block of the Campos basin in shallow water.

Offshore staff

HOUSTON -- Brazilian independent OGX Petróleo e Gás Participações has found a second oil bearing interval at well 1-OGX-2A-RJS, in the BM-C-41 block of the Campos basin in shallow water.

An oil column of approximately 250 m (820 ft) with over 100 m (328 ft) of net pay has been encountered in the Albian section of the well. These high quality carbonate reservoirs have shown up to 23% of porosity, OGX says.

The new discovery adds to some 400 MMbbl to 500 MMbbl of estimated recoverable oil from Upper Cretaceous reservoirs already found at the well. “The identification of a very expressive oil bearing column of high quality carbonate reservoirs in the Albian section exceeded our expectations,” says Paulo Mendonça, OGX’s general executive officer.

The drilling of OGX-2A is still in progress aiming at additional objectives until the final depth of 3,425 m (11,237 ft). OGX holds 100% working interest in the block. "Preliminary data indicates that this is one of the best Albian plays our team has encountered in Brazil."

The block BM-C-41 is situated about 77 km (48 mi) off the coast of Rio de Janeiro state at a water depth of 130 m (427 ft). Drilling began in October with Diamond Offshore’s rig Ocean Ambassador.

11/30/2009

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