Oil and gas found southeast of Falkland IslandsStaff writer ▼ | October 19, 2015
Falkland Oil and Gas said the Humpback 53/02-01 exploration well to the southeast of the Falkland Islands has found oil and gas shows.
Energy business Falkland Oil and Gas and Noble Energy
The group said it had decided to drill deeper at the well reaching a depth of 4,718m, where it recorded oil and gas shows whilst drilling through the main target horizon.
”A number of sandstone intervals in the Lower Cretaceous (APX-200) were encountered between 4,642 meters and 4,704 meters and oil and gas shows were recorded whilst drilling through this section.
"A set of intermediate wire-line logs have been run and these indicate the possible presence, based only on preliminary petrophysical analysis, of hydrocarbon bearing sandstones, within the main APX-200 target horizon. The APX-200 contains approximately 40 meters of net sand, with moderate porosities“.
However, FOGL warned the drilling has been ”slower than anticipated“, because a side-track was required at 4,360 meters for mechanical reasons, leading to a sharp increase in operational costs, as the well remains behind schedule. ■