Eco Atlantic to drill Jethro Lobe prospect offshore Guyana

11 June 2019 (Last Updated June 11th, 2019 11:31)

Eco (Atlantic) Oil & Gas is set to spud the Jethro Lobe prospect in the Orinduik Block offshore Guyana later this month.

Eco Atlantic to drill Jethro Lobe prospect offshore Guyana
Eco (Atlantic) Oil & Gas has mobilised the Stena Forth drillship to spud the Jethro-Lobe well. Credit: Philippa McKinlay.

Eco (Atlantic) Oil & Gas is set to spud the Jethro Lobe prospect in the Orinduik Block offshore Guyana later in June.

The company has already mobilised the Stena Forth drillship from West Africa towards Guyana to spud the Jethro-Lobe well.

In February 2019, Eco Atlantic contracted the Stena Forth rig from Stena Carron Drilling Limited Guyana Branch to drill two wells at the block.

The drillship, which has been operating for Tullow, is expected to reach the Orinduik Block on or around 24 June 2019 and start its activity thereafter. The spud date of the first well is expected on around 26 June. Once complete Eco, with its partners, is expected to drill the second well in the block.

Eco holds a 15% working interest in the 1,800km² Orinduik Block. The other stakeholders are Tullow Oil and Total EP Guyana, who own 60% and 25% stakes, respectively. It is located in shallow water (70m – 1,400m) around 11km up-dip from ExxonMobil’s recent Liza discovery.

Eco (Atlantic) Oil & Gas chief operating officer Colin Kinley said: “Our team, together with Tullow and Total, have comprehensively interpreted the nearly 3,000km² of 3D seismic data we shot over and beyond Orinduik and have selected the first two targets that we feel will allow us to accelerate the Block’s development.

“With the Stena Forth now mobilising westwards to Guyana waters, we are on course to drill a pair of potentially transformational wells for the Company, for the Block partners, and for Guyana.”

He added that the two wells will test the Upper and Lower Tertiary-aged turbidites, while Jethro well drills down to the Cretaceous section. The latest NI 51-101 compliant CPR report estimates gross unrisked prospective resources P50 (Best) of 3,981.9MMboe in the Orinduik Block.