TORONTO – Eco (Atlantic) Oil & Gas says the Tullow-led partnership in the Orinduik block offshore Guyana has approved the location for a second exploration well in this year’s campaign.
The drillshipStena Forth will initially spud the first well on the Jethro Lobe structure in early June, then start work on the Joe prospect in mid-July (pending approval from Guyana’s Department of Energy).
Joe, in around 650 m (2,134 ft) of water, is a 150-MMboe Upper Tertiary target with an estimated chance of success of 43.2%. Eco estimates the combined prospective resources from both wells at close to 370 MMbbl.
Colin Kinley, the company’s COO, said: “The evaluation of the Orinduik block is ongoing and we are confident in our ability to prove up oil in the Tertiary aged section that has already been de-risked by our neighbours on the Stabroek block with theHammerhead discovery.”