Noble Energy's Humback exploration well offshore the Falklands has encountered non-commercial quantities of oil and gas, Falkland Oil and Gas confirmed this morning.
The 53/02-01 Humpback exploration well, which was running over schedule and budget, was drilled to a total depth of 5136m (measured depth).
Falkland Oil and Gas says the well encountered non-commercial quantities of oil and gas within a number of sandstone intervals, including the main APX-200 target.
Once operations have been completed on Humpback, the Eirik Raude semisubmersible drilling rig will return to the North Falklands Basin to drill a second well on the Elaine/Isobel fan complex. The Elaine/Isobel fan complex, based on the operator’s estimates, has multiple reservoir targets and gross mean un-risked resources of 400 MMbbl. A further announcement will be made on the commencement of this well.
On Humpback, all of the pre-drill targets were penetrated close to prognosis in the well. An additional 25m of sandstone was encountered below the APX-200 bringing the total in the well to 65m. The deeper sandstones, exhibit only moderate porosity (10% to 15%) and low hydrocarbon saturations.
For a number of operational reasons, it was not possible to obtain fluid samples from any of the hydrocarbon bearing zones in the well, says Falkland Oil and Gas.
The company will now evaluate the results in more detail and assess the impact on the prospectivity of the Diomedea fan complex and the rest of the southern licenses.
It says: "The results do however demonstrate a working hydrocarbon system and Humpback was only one of a number of geological plays within the Fitzroy sub-basin. Importantly the results will allow calibration of the 3D seismic data and this may facilitate the mapping of higher quality sands elsewhere within the large area covered by 3D seismic."
Tim Bushell, CEO of FOGL, commented: "While the Humpback well has provided mixed results, it should be noted that this is the first well in the South Falklands Basin to encounter oil and also demonstrate a working hydrocarbon system in the Fitzroy sub-basin. The reservoir quality in the various targets penetrated by the well was however poorer than pre-drill expectations, and further work will now be required to fully integrate the well results and assess the implications for the overall oil and gas potential of our southern licences”
“We look forward to notifying shareholders upon commencement of drilling operations at the Elaine/Isobel well in the North Falkland’s basin.”
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