Offshore staff
TORONTO – Repsol Exploracion has terminated operations on the Jaguar-1 well on the Georgetown Petroleum Prospecting License offshore Guyana.
According to partner CGX Energy, the well was due to be plugged at a depth of 4,876 m (15,997 ft) without reaching the primary objective in the Late Cretaceous geologic zone. The decision was taken after the well reached a point where pressure design limits for safe operations prevented further drilling.
Jaguar-1 was a high-pressure/high-temperature well spudded in February by the jackupAtwood Beacon. Despite not reaching the main target, light oil was recovered from two Late Cretaceous turbidite sands.
Kerry Sully, president and CEO of CGX, said: “Based on hydrocarbons recovered during the drilling of Jaguar-1, CGX is confident that a new well targeting the same prospect would hold significant promise and is therefore committed to seek a re-drill utilizing a new well design.”
Suresh Narine, chairman, added: “In addition to our commitment well on the [offshore] Corentyne block, we are planning a 3D seismic program later this fall with our ultimate goal being to commit to a rig for a three- to five-well program. Added to this would be the re-drill of the Late Cretaceous target addressed by the Jaguar-1 well.”
8/20/2012
