Byron Energy has encountered a ‘substantial’ hydrocarbon column at a well in the Cutthroat prospect, located in the Gulf of Mexico.
The firm, which has its operations concentrated in the shallow waters offshore Louisiana, drilled the SM58 011 well to a measured depth of 10,885ft.
In the well bore, Byron Energy acquired a quad-combo suite of electric, porosity and SONIC logs. It hit a 302ft of gross hydrocarbon bearing O Sands with 271ft net true vertical thickness (TVT), according to third party petrophysical calculations.
The logs also confirmed a thick, clean, high quality O Sand that showed a more than 30% average porosity. An assessment of mud gas isotope samples acquired during the process showed the hydrocarbon to be a liquids rich gas with high-quality oil.
It is estimated that the hydrocarbons in the SM58 011 well are from the same source rock at Byron-operated SM71 F platform. This source has produced 1.5 million barrels of high-quality oil and 2.5 billion cubic feet of gas.
Overall, the SM58 011 hit the thickest O Sand hydrocarbon column in the SM73 field where more than 350 wells have been drilled. The final reserves in the well are expected to be confirmed by the middle of September 2019.
Bryon Energy CEO Maynard Smith said: “This is obviously a fantastic result for Byron and will lead to substantial growth over the next few years.”
Following the discovery, the company has decided to advance with the development of SM58 block.
The company noted the completion of preliminary engineering studies on structural modifications to the jacket and decks. Currently, the existing production equipment is being removed from the platform for overhauling works. Once complete, the platform will be capable of accommodating 8,000 barrels of oil per day, 80 million cubic feet of gas per day and 8,000 barrels of water per day.
Additionally, works related to pipeline design and route surveying have also commenced.
Byron holds all operator’s rights and 100% stake in the SM58 Lease Block.