Savannah Petroleum reports its fourth oil discovery in southeastern Niger
LONDON -- Savannah Petroleum PLC, the British independent oil and gas company focused around oil and gas activities in Niger and Nigeria, has announced that the Eridal-1 exploration well is an oil discovery. Eridal-1 is the fourth consecutive discovery Savannah has made in its ongoing exploration campaign in the R3 portion of the R3/R4 PSC Area in the Agadem Rift basin (ARB), southeastern Niger.
Well result
Preliminary results based on the interpretation of the available data set (which includes wireline logs, fluid sampling and pressure data) indicate that the well has encountered a total estimated 13.6 m of net oil bearing reservoir sandstones in the E1 reservoir unit within the primary Eocene Sokor Alternances objective. Wireline logs indicate the reservoir properties to be good quality and the available data indicates light oil consistent with Savannah’s discoveries to date, and in line with offset wells and the depth/API trend observed across the basin. Oil samples from the E1 reservoir unit have been taken and returned to surface using wireline testing equipment.
Drilling performance
The well was drilled by the GW 215 rig to a total MD of 2,542 m, and encountered the main objective targets at, or near, their prognosed depths. The well took a total of 14 days to reach target depth, and all operations are expected to be completed within 23 days of spud. This compares with a pre-drill expectation of 22 days to reach target depth and 30-35 days to complete all drilling operations. No significant geological or drilling hazards were encountered.
Next steps: Exercise of drilling rig option and Eridal-1
Eridal-1 is currently being suspended for future re-entry. Production tests are expected to be performed on at least two of Savannah’s discovery wells as a precursor to the Company’s plans to implement its Niger Early Production Scheme (EPS), as referenced in the Company’s RNS on Aug. 8, 2018. The testing is expected to require standard production completion equipment to be installed in the wells, enabling them to be connected to the proposed EPS. This well testing programme is currently being planned for later in the year and the Company intends to provide further details in due course. The Company does not expect to provide a discovered resource and volumes report until the well test program has been completed and evaluated.
Following the successful results of the four exploration wells drilled to date on the R3 East area, Savannah has elected to exercise the second of the six individual options it has under contract with Great Wall Drilling Company Niger SARL. The GW 215 rig will now mobilize to the Zomo-1 well site, located on the R3 portion of the R3/R4 PSC Area 12 km from Eridal-1, where it will prepare to spud the Zomo-1 exploration well. Following the exercise of this option, Savannah will continue to have options for a further four wells, each of which can be exercised individually at Savannah’s discretion.
Zomo-1 The Zomo-1 well site preparation is in the final stages of completion and is on schedule to accept the rig following demobilisation from the Eridal-1 well site. The move is anticipated to take between 10-15 days, and the Company will provide an update upon spud of the well. The well is designed to evaluate potential oil pay in the Eocene Sokor Alternances as the primary target.
