OGX-14 net pay estimated goes up

OGX Petróleo e Gás Participações S.A. says it has revised upwards its net pay estimate for the Albian section of well 1-OGX-14-RJS.

Offshore staff

RIO DE JANEIRO -- OGX Petróleo e Gás Participações S.A. says it has revised upwards its net pay estimate for the Albian section of well 1-OGX-14-RJS. It also has identified another oil-bearing interval in the same section of well OGX-14 in block BM-C-40 of Campos basin offshore Brazil.

The adjustment came after additional drilling and new studies including logging, lateral core sampling, pre-tests, and a cable test.

Net pay on the initial section went from 60 m to 90 m, and the new section indicates 27 m of net pay on a 55 m oil-bearing column.

OGX-14, also known as Peró, is in the BM-C-40 block 96 km off the coast of the state of Rio de Janeiro at a water depth of approximately 104 m. Diamond Offshore’s rig Ocean Lexington drilled the well.

“The size and significance of the discoveries in this well highlight to us the importance of our northern blocks located in the Campos basin,” says Paulo Mendonça, general executive officer of OGX. “These positive results have led us to prioritize this area in our future drilling within the basin.”



07/16/2010

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