Tullow’s Namibian well disappoints
Tullow Oil’s Cormorant-1 well is being plugged and abandoned after encountering water bearing sands, in the latest well to be drilled in the Walvis Basin offshore Namibia. Interest from industry has been intensifying as it looks to capitalise on the 2013 breakthrough Wingat and Murombe wells, and the majors have been moving in, with ExxonMobil farming into two separate deals in 2018. Attention in the region will now switch to the south of Cormorant, as the Ocean Rig Poseidon moves to PEL 71 to drill Prospect S for Chariot Oil & Gas. Both Cormorant-1 and Prospect S were highlighted by us as wells to watch in our ‘Exploration Watch: 2018 exploration wells’ report.
Read more...Tullow spuds Cormorant well offshore Namibia
UK independent Tullow Oil has spudded the Cormorant exploration well in the Walvis Basin offshore Namibia and highlighted by us as a well to watch in our ‘Exploration Watch: 2018 exploration wells’ report. The well is targeting resources of 125mmbbls in a basin slope Cenomanian Cretaceous fan covering 120km2. If successful, the well would open up a potential 1bnbbls in other fans for the company together with the rest of the basin for the industry, where majors have been building a position in recent years, most recently with ExxonMobil’s 30% farm in to AziNam’s PEL 44 licence immediately to the south of Cormorant. The well is one of two high profile wells to be drilled in Namibia this year, with Chariot Oil & Gas due to drill its Prospect S well from mid-October and also covered in our report.
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