LGO plugs Trinidad well pending decision on next move

Offshore staff

LONDON – LGO Energy (LSE AIM: LGO) has plugged the GY-678 well offshore Trinidad following a mechanical problem. This was the last of seven wells LGO planned to reach the C-Sand strata.

An attempt to recover downhole equipment that obstructed the 9⅝-in. casing was not successful. A decision is pending on whether to re-enter and side track, or re-drill.

“Stuck pipe incidents are not common and despite taking extensive precautions during the drilling of the 15 new wells, this incident, which occurred at the very end of the program, is a setback for LGO,” said Neil Ritson, CEO.

“Whilst there is no long-term impact to the company’s assets and indeed the GY-678 well has shown that there is more and better C-sand reservoir than previously known, the short-term financial impact has to be managed. The company is still planning for additional Goudron Sandstone production and will report further on its plans in the coming months.”

10/20/2015

Share your news with Offshore at news@offshore-mag.com

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...