LGO Energy Commences Production Increase Operations at Goudron, Trinidad

LGO Energy plc announced Wednesday that work has begun to increase oil production at its Goudron Field in Trinidad, with Petroleum Company of Trinidad and Tobago Limited (Petrotrin) and the Ministry of Energy and Energy Industries granting approval to perforate well GY-671.

The well will be drilled “shortly”, according to a company statement, in the Upper C-sands over a net pay interval of 208 feet. In addition, LGO has revealed that well GY-50 has been successfully re-entered and logged to a depth of 2,428 feet. Following interpretation of these logs, an application will be submitted to Petrotrin to perforate and complete 223 feet of new net oil pay in the Goudron Sandstone section in two intervals, starting with a 164 foot zone between 1,192 and 1,615 feet.  This well is expected to be perforated immediately after the completion of GY-671. The second pay zone will be completed at a later date.

Technical work has identified an additional six existing wells that represent further low-cost opportunities to increase production by accessing previously uncompleted productive intervals. Applications are being prepared to approve these wells for completion.

LGO's Chief Executive, Neil Ritson, commented in a company statement:

"We are really pleased to be moving towards again adding new untapped oil production at the Goudron Field with these low cost, high impact recompletions and we would expect to see production starting to increase after a lengthy hiatus following the issues experienced with the loss of GY-678 in October last year. The recent reduction in overriding royalties by Petrotrin for the Goudron Field and the stabilizing oil price are both providing encouragement to increase investment and production."

Have a news tip? Share it with Rigzone!
Email news@rigzone.com


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  What Kind of Salary Can You Get as an ... (Aug 18)
 -  Shell Divests Stake in Saudi JV (Aug 16)
 -  Saipem to Build Pipelines for Kuwait R... (Aug 16)
 -  The Trick to Nailing Your Electrical E... (Aug 10)
 -  Jacobs Expands MSA for Chevron's US Re... (Aug 9)

Most Popular Articles

From the Career Center
Jobs that may interest you
United States Conroe: Associate Bit Repair Technician - Sr. Bit Repair Tech
Expertise: Logistics Management|Materials Management |Supply Chain Management
Location: Conroe, TX
Data Management / Logistics Support
Expertise: Logistics Management
Location: Chesterfield, MO
Key Financial Consultant Job
Expertise: Accounting|Financial Analyst|Legal
Location: Minneapolis, MN
search for more jobs

Brent Crude Oil : $52.72/BBL 3.31%
Light Crude Oil : $48.51/BBL 3.01%
Natural Gas : $2.89/MMBtu 1.36%
Updated in last 24 hours