Production commenced from Houston-based Erin Energy’s Oyo-7 well offshore Nigeria, with the expectations to double the company’s current production rate out of the Oyo field.
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The Armada Perdana. From Bumi Armada. |
The Oyo-7 development well is located in OML 120 in approximately 1000ft (300m) of water. The well was drilled to about 8000ft (2438m) and successfully completed horizontally in the Pliocene formation, where the well is producing approximately 7000 b/d following optimization of choke size into the Armada Perdana floating production storage and offloading (FPSO) vessel.
The well had two planned objectives: Pliocene formation as the primary, and the secondary was to test the deeper Miocene formation for hydrocarbon potential.
Erin Energy was able to successfully confirm hydrocarbon in the Miocene formation, which was previously undrilled on the block. This successful test has de-risked the Miocene in the company’s offshore Nigeria blocks and has provided valuable data for the company’s planned Miocene exploration program, which targets recoverable P50 resources of nearly 3 billion boe, Erin Energy said.
“We are pleased that the well is performing in-line with our expectations and we will be working over the next few days to optimize the flow rate. Bringing this well on production will double our current production rate out of the Oyo field and is a significant step in the continued growth of our company,” Segun Omidele, senior VP of E&P said.
Erin Energy, Oyo field's operator with 100% interest, will drill the company’s first Miocene exploration well in 4Q 2015.
In mid-May, the company’s Oyo-8 well exceeded expectations of 7000 b/d, and is producing at a stabilized rate of 7080 b/d. Oyo-8 is also producing to the Armada Perdana FPSO. The well began production in early May.
Formerly Camac Energy, the company changed its name to Erin Energy earlier this year in April following a reverse stock split. Each of the six shares of common stock was converted into one share of common stock.
In January, Northern Offshore International Drilling Co. filed a US$50 million claim against Camac for canceling the Energy Searcher drilling contract just a week prior on 7 January. The Energy Searcher was working on plugging and abandonment operations on the Oyo-5 and Oyo-6 wells. After the cancelation, the Sedco Express took over the Oyo field, to expedite timing of production tie-in from the Oyo-7 and Oyo-8 wells.
Read more:
Erin Energy begins Oyo-8 production
CAMAC changes name to Erin Energy
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