OGX discovers more oil, natural gas with Waikiki well in the Campos Basin offshore Brazil

Source: OGX

Brazilian independent OGX Petróleo e Gás Participações S.A. (OGX) announced Wednesday the presence of hydrocarbons in the Eocene section of well 1-OGX-25-RJS, which was previously identified as drilling the Waikiki prospect located on BM-C-39 Block in the shallow waters of the Campos Basin offshore Brazil

After identifying hydrocarbons in the Albian-Cenomanian section of the well, the drilling of well OGX-25 proceeded. The well reached carbonate reservoirs in the Albian-Cenomanian section, transecting a total column of approximately 198 meters and total net pay of around 145 meters in this section, as compared to the 125 meters of column and 116 meters of net pay previously announced. 

Moreover, new studies, which included logging and cable tests, also permitted the identification of hydrocarbons in sandstone reservoirs in the Eocene section, specifically a gas accumulation with a column of approximately 16 meters and net pay of around 8 meters. 

It should be noted that the name of well 1-OGX-25-RJS has changed to 6-OGX-27P-RJS with the drilling of the Albian section. Its drilling will continue until a total estimated depth of 3,100 meters. 

This well is located in the BM-C-39 block at about 94 kilometers off the coast of the state of Rio de Janeiro at a water depth of approximately 105 meters. The Pride Venezuela rig initiated drilling activities there on November 14, 2010. 

OGX holds 100 percent interest in Block BM-C-39.



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