LGO Starts Production From New Interval Following Workover at Goudron Field

LGO Energy plc revealed Monday that production has now commenced from a new oil pay interval in well GY-277, following heavy work-overs at the Goudron Field in Trinidad. 

A total of 45 feet of perforations were added to the Mayaro Sandstone, at depths between 500 and 631 feet, in a reservoir interval that has previously not been completed for production. As with well GY-673 in July, well GY-277 was recompleted using wireline perforating guns.

As LGO anticipated, this interval in the shallow Mayaro Sandstone formation did not flow naturally to surface and was placed on pump production. The well is still cleaning up and is currently producing at a rate of 34 barrels of oil per day.

A further five target wells have been approved by LGO management for recompletion over the next few months. These comprise well GY-668, 288, 193, 240 and 282, at an average cost of approximately $50,000 per well.

"We are continuing with the workover activity previously planned and announced,” said Neil Ritson, LGO's chief executive, in a company statement.

“In parallel locations are being prepared for infill drilling in the Mayaro Sandstone reservoir which holds approximately 65,000 barrels of very low risk and low cost oil production potential per infill well according to the recent Competent Persons Report prepared by Deloitte. It is now hoped to get infill drilling underway by the end of 2016,” he added.



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