Amerisur Spuds Jaguarete-1 Well in Paraguay
South America-focused oil and gas producer and explorer Amerisur Resources Plc announced Friday the spudding of the Jaguareté-1 well, located in the San Pedro block within the Parana basin in eastern Paraguay.
The well, which was drilled using the Quieroz Galvao QG-1 drilling rig, is expected to take approximately 40 days to reach an estimated total depth of 10,000 feet. Targeting the Santa Elena and Lima formations of Devonian age, the well carries prospective resources of 106 million barrels of oil. The dry hole cost, including the logging of the well, is expected to be approximately $9 million.
Amerisur Resources CEO, John Wardle, said in a company statement:
"We are delighted to have commenced the drilling of Jaguareté-1 in the San Pedro block, the first exploration well in our active, fully funded 2016 work program. Jaguareté-1 is an exploration well which carries risk in this new basin. I look forward to an efficient execution of the program and hope for positive results.
“The well, on success has the potential to open up a new petroleum province in a country where Amerisur holds an attractive acreage position of approximately 4.8 million hectares covering four 100 percent owned oil and gas permits. Our work to date suggests that all necessary conditions are present for a commercial hydrocarbon discovery in our blocks in Paraguay and we look forward to updating shareholders in due course on the results."
WHAT DO YOU THINK?
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.
- ExxonMobil Racks Up Discoveries in Guyana Block Eyed by Chevron
- Oil Market Sentiment Has Improved Significantly
- EU, US Eye Collaboration on Nuclear Materials
- USA Driving Activity to Increase to All-Time Highs
- TC Energy to Sell Prince Rupert Gas Pipeline Project to First Nation
- EU Electricity Export to Ukraine Up 94 Percent in Two Years
- China Coal Output Falls for First Time since Government Ordered More
- BP Pulse Buys One of Europe's Largest Truck Stops
- UK CCUS Plans Outdated: Think Tank
- North America Enters Rig Loss Streak
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- EIA Drops 2024 Henry Hub Gas Price Forecast
- EIA and Standard Chartered Offer Up Latest Oil Price Predictions
- Red Sea Region Sees Another Watershed Incident
- Chevron Oil Project in Kazakhstan to Cost $48.5B
- OPEC Voices Encouragement after IEA Affirms Support for Oil Security
- Biden Govt Bares Strategy for Freight Charging, Hydrogen Fueling Infra
- Ukraine Hits Third Russian Refinery In Escalating Drone Strikes
- Rystad Looks at the Buzz Around White Hydrogen
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Is Peak Oil Demand Close?
- Vessel Sinks in Red Sea After Missile Strike
- JP Morgan, Standard Chartered Reveal Latest Oil Price Forecasts
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Rystad Forecasts Net Production of Top Permian Producers in 2024
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension