OGX Hits Paydirt Offshore Brazil

OGX has identified gas and condensate in well 1-OGX-11D-SPS on the Natal prospect in the shallow waters of the Santos Basin. Thus far, an oil column of about 138 feet (42 meters) with net pay of roughly 112 feet (34 meters) was encountered in sandstone reservoirs in the Santonian section, with high porosity and consistent hydrocarbon shows. Drilling is still in progress by the Ocean Quest semisub, and the well will be drilled to a final depth of up to 20,013 feet (6,100 meters) aiming at additional objectives. The well, the OGX-11D, is situated about 65 miles (104 kilometers) off the coast in the BM-S-59 block in waters measuring 558 feet (170 meters). OGX wholly owns and operates the block.

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