ASX-listed oil and gas company Nido Petroleum has completed drilling operations on the Galoc-7 sidetrack well in the Palawan Basin offshore The Philippines after which the rig has been demobilized.
Nido informed on Monday that the Deepsea Metro I drillship reached a total depth of 2,569 meters measured depth RT (2,261 meters TVD RT) in the Galoc-7ST-1 well, having drilled through the Galoc Clastic Unit reservoir interval.
According to the company, the Deepsea Metro I plugged and abandoned the Galoc-7ST-1 well, located in Block C1 of Service Contract 14, ahead of demobilization.
Nido said that the objective reservoir interval for the Galoc-7ST-1 well was encountered between 2,412 to 2,561 meters MD RT (2,131 to 2,253 meters TVD RT) with a gross thickness of 122 meters and net reservoir thickness of 12 meters. The net reservoir interval consists primarily of interbedded sandstone and claystone.
Preliminary logging while drilling (LWD) and wireline log data which was recorded in this interval indicates the reservoir unit contains hydrocarbons.
The Galoc-7ST-1 well results, in combination with the Galoc-7 results which the company recently described as ‘inconclusive,’ are being evaluated and the results of both wells will be incorporated into the relevant subsurface models to assess the commerciality of a potential Phase III development.
In a separate announcement on Tuesday, the company said that the Deepsea Metro I rig completed demobilization and was off-hire to the Galoc Joint Venture partners as of 5:00 AM CET on May 2.
Nido, as the operator, holds a combined 55.88 percent participating interest in Block C1 of Service Contract 14 through its wholly owned subsidiaries Nido Production (Galoc) Pty Ltd and Galoc Production Company WLL.
In late April, a fatal accident occurred during supply operations in Labuan, Malaysia related to the company’s Galoc field.