Leni Gas and Oil’s (LGO) first development well in Trinidad Goudron field has begun production at a steady flow rate.
The GY-664 has been running at a controlled rate of 240 barrels of oil per day (bopd), following an initial flow rate of 326 bopd.
The flow rate is being deliberately restricted to maximise the long-term production potential from the well and to avoid any potential damage to the reservoir, the company said.
The well, which is the first of its kind in 30 years, has delivered better than expected results after it found a total gross sand thickness of 1,300 feet estimate when it was drilled in early May.
Simultaneously, LGO is in the process of casing the second development well, GY-665, which has an anticipated total depth of 3,500 feet and has intersected approximately 310 feet of gross oil sand in the Goudron sandstones.
“This is a very significant outcome and I am sure it will be completely transformational for the field and the company,” said Neil Ritson, LGO’s chief executive.
“As the first new production well on the field for over 30 years, GY-664 was drilled with an on-balance mud system and completed with modern tubing conveyed guns. The initial flow rate demonstrates the value of this approach; exceeding the historic averages four-fold.
“We fully expect many more similar results as the drilling campaign progresses and indeed well GY-665 is already showing considerable potential.”