OPD Hits Pay at Ogo Offshore Nigeria

Afren plc, a partner in the OPL 310 license, reported that a discovery was made at the Ogo-1 well offshore Nigeria. The well reached a total depth of 10,518 feet and encountered a gross hydrocarbon section of 524 feet, with 216 feet of net stacked pay.

Ogo-1 targeted 78 million barrels of oil equivalent of gross P50 prospective resources, but the operator stated that based on collected data, targeted resources seem to be much larger than originally anticipated. Ogo-1 was spud by the GSF Monitor (350' ILC) near the end of April 2013.

Water depth at the location is just over 300 feet. 

The consortium is further analyzing wireline logs prior to extending the well to a total measured depth of 11,800 feet to target further high-potential zones.

"The discovery of oil in the Ogo-1 well opens up a new oil basin in an under-explored region and represents a possible extension of the West African transform margin," stated Osman Shahenshah, chief executive of Afren, in a press release. "Based on evidence to date, targeted resources are likely to be significantly in excess of previous estimates, with some high-potential zones still to be drilled. We look forward to working with our partners to realize the full potential of Ogo and our additional prospects on the license."

Ogo tested a four-way dip-closed structure in the Turonian, Cenomanian, and Albian sandstone reservoirs. This discovery confirms the extension of the same Cretaceous sandstones that have yielded other significant discoveries along the West African transform margin.

Once drilling operations are completed, the consortium intends to drill a planned sidetrack, Ogo-1 ST. This well will test a new play for stratigraphically trapped sediments and it is targeting 124 MMboe of gross P50 prospective resources.

Optimum Petroleum Development serves as the operator with a 60% interest; while Afren holds a 22.86% interest and Lekoil holds a 17.14% stake.