Hyperdynamics ‘very disappointed’ as Fatala well proves dry

After much anticipation, Hyperdynamics-operated Fatala-1 exploration well drilled offshore Guinea has reached its total drilling depth and did not encounter hydrocarbons.

Fatala-1 was drilled with the Pacific Scirocco drillship in 2,897 meters of water and reached a total depth of 5,117 meters below sea level.

Hyperdynamics informed on Friday that the well encountered a 75-meter-thick Cenomanian sedimentary channel sequence, but it contained predominantly siltstone and clays with no hydrocarbon shows. The well will be plugged and abandoned.

“We are very disappointed at the results of Fatala-1, considering the extremely promising geophysical data on the prospect,” said Ray Leonard, Hyperdynamics’ President and Chief Executive Officer.

“Hyperdynamics and our 50% partner in the well, SAPETRO, currently hold rights to the Guinea concession through September 21, 2017.  In the very near future, we will be studying the results of the well and evaluating any future options we may have for further activity in Guinea.”

To remind, Hyperdynamics was previously guaranteed a two-year appraisal period in the event of an oil discovery. However, as no hydrocarbons were encountered it is still unclear what the company’s next move will be.

Leonard added: “Fatala-1 was the deepest-water well ever drilled offshore Africa, and I’m pleased to say that it was drilled safely and within expected budget.”

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