Eni said Aug. 27 a well drilled by its affiliate Nigerian Agip Oil Company (NAOC) Ltd. has discovered would could amount to about 1 trillion cubic feet of gas and 60 million barrels of associated condensate in Nigeria’s Niger Delta.
“The discovery has further potential that will be assessed with the next appraisal campaign,” Eni said in the release.
The gas and condensate were found by the Obiafu-41 Deep well, in the deeper sequences of the Obiafu-Obrikom fields in OML61. The well reached a total depth of 4,374 m and hit the accumulation within the of Oligocene-aged deltaic sequence comprising more than 130 m of high-quality hydrocarbon-bearing sands, Eni said.
The well will be immediately put onstream to increase NAOC’s gas production.
Eni said the discovery is part of a drilling campaign targeting near-field and deep pool opportunities.
NAOC comprises Eni, 20%; Nigerian National Petroleum Corp. 60%; and Oando, 20%.
Recommended Reading
Permian Surface-owner LandBridge to Raise up to $367MM in IPO
2024-06-17 - Houston-based LandBridge holds some 220,000 surface acres in the Delaware Basin.
Scott Sheffield Among Investors in Australian Shale Gas IPO
2024-06-27 - The operator who sold Pioneer Natural Resources Co. to Exxon Mobil in May for $59.5 billion joins his son Bryan Sheffield in shale gas investment Down Under.
Solaris Stock Jumps 40% On $200MM Acquisition of Distributed Power Provider
2024-07-11 - With the acquisition of distributed power provider Mobile Energy Rentals, oilfield services player Solaris sees opportunity to grow in industries outside of the oil patch—data centers, in particular.
Archrock Offers Common Stock to Help Pay for TOPS Transaction
2024-07-23 - Archrock, which agreed to buy Total Operations and Production Services (TOPS) in a cash-and-stock transaction, said it will offer 11 million shares of its common stock at $21 per share.
The ABCs of ABS: Financing Technique Shows Flexibility and Promise
2024-07-29 - As the number of ABS deals has grown, so have investors’ confidence with the asset and the types of deals they are willing to underwrite.