OGX Strikes Oil in Campos Basin

OGX has encountered hydrocarbons in the Albian and Aptian sections of well 1-OGX-31-RJS, also known as the Osorno prospect, located in the BM-C-41 block in the shallow waters of the Campos Basin. An oil column of about 489 feet (149 meters) with a net pay of 157 feet (48 meters) was encountered in the Albian section and an oil column of 194 feet (59 meters) with a net pay of 75 feet (23 meters) was identified in the Aptian section, both in carbonate reservoirs.

Drilled by the Ocean Ambassador semisub, the well concluded at a final depth of 12,421 feet (3,786 meters). OGX-31 is situated about 50 miles (80 kilometers) off the coast of Rio de Janeiro in a water depth of 446 feet (136 meters). OGX wholly owns and operates the well.

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