Leni Gas & Oil (LGO) said that electric logs show a 219ft region of net oil pay in the Gros Morne Sandstone at its GY-667 well in Trinidad’s Goudron field.
The oil lay includes a thick massive sandstone interval of 130ft at a depth of 2,596ft.
The GY-667 well, the fourth of 30 new development wells that LGO plans at the Goudron field, has a high oil pay in the Gros Morne Sandstone and is expected to provide free-flowing production.
The well has already found 187ft of net oil pay in the Goudron sandstone.
LGO chief executive Neil Ritson said: "Well GY-667 appears to be our best well so far in the drilling campaign and has a really excellent oil pay in the Gros Morne.
"The rig will now move to the final location from the current pad and spud the fifth well of the program, following which we will be able to put on production this well along with the others on the pad."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataLGO has secured approval to install a new 2,000-barrel sales storage tank at Goudron, which in addition to the existing tanks will provide an export capacity of around 2,750 barrels a day.
The company’s Trinidad operation features four main assets, the Goudron Field IPSC, the Icacos Oilfield, the Moruga North leases and the Cedros Peninsular leases.
LGO has recently signed a binding heads of agreement to acquire 100% interest of the producing Trinity-Inniss Field in south-eastern Trinidad.
