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Oil and gas found southeast of Falkland Islands

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Staff writer ▼ | October 19, 2015
Falkland Islands
Energy business   Falkland Oil and Gas and Noble Energy

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.

Along with Noble Energy, its partner in the project, the London-listed company said it will drill even deeper to source new targets.

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.

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