Otto farming into Gulf of Mexico block

Otto Energy has entered into a joint venture with Talos Energy for the Green Canyon block 21 in the Gulf of Mexico.

Apr 1st, 2019

Offshore staff

WEST PERTH, Australia– Otto Energy has entered into a joint venture with Talos Energy for the Green Canyon block 21 in the Gulf of Mexico.

Otto will earn a 16.67% working interest in the block by paying 22.22% of the cost of drilling the Bulleit appraisal well.

Talos has contracted the drillshipNoble Don Taylor to drill the appraisal well, which is expected to start in the middle of 2Q 2019.

Bulleit is an amplitude-supported Pliocene prospect with similar seismic attributes to the analogous sand section in Talos’ Green Canyon block 18 field, which has produced approximately 39 MMboe to date. The Bulleit prospect is in approximately 1,200 ft (366 m) of water and is 10 mi (16 km) from the GC18A platform.

According to Otto, the DTR-10 oil sand, which is the primary target of the Bulleit well, was first discovered in 1984. Three wells, all with logged oil pay within the DTR-10 Sand Package, were drilled between 1984 and 1987. A side track of the first well also found oil pay in both DTR-10 and deeper MP Sands. Drillstem tests from the first and third sand packages in the DTR-10 sand were undertaken in 1985.

A subsea development is planned to tie the Bulleit well into the GC18A platform. It is expected to deliver between 8-15,000 boe/d.

04/01/2019

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