Tanzania-based Orca Exploration Group has plugged and abandoned the La Tosca-1 exploration well located in the Eastern Po Valley basin, Italy.
Drilling on the well reached a total depth of 2,335m and intercepted gas shows.
The company intended to evaluate the exploration potential of the gas prospect, which was mapped from 3D seismic on the Longastrino permit.
Initial wire line logging data provided the company with positive expectations; however it was a more limited reservoir sand development due to the extrapolation of data from adjacent wells.
The company said the data could not provide a strong economic case to warrant well completion and testing.
Orca Exploration Group chairman and CEO W David Lyons said drilling of the La Tosca-1 well was completed ahead of schedule.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData"The gas shows encountered are encouragement for further work to be undertaken to determine the future potential in the area," said Lyons.
Orca Exploration has earned a 70% working interest in the block as the well was not completed; the company will own the operatorship in the block, subject to government approval.
The company had to pay €4.3m towards drilling cost and 70% for the drilling phase as well as €0.6m to earn a 70% interest in the block, under the terms of the farm-in agreement.
Once the company receives government approval for the operatorship, it intends to review the technical and drilling data for continuing
exploration work.
Drilling on the project began on 6 August 2012.
