Stock Market News
Second Niger well spuds for Savannah
Savannah Petroleum announced on Tuesday that the second well in its three-well Niger drilling campaign, Amdigh-1, was spudded on 6 May.
The AIM-traded company said Amdigh-1 is located on the R3 portion of the R3/R4 PSC Area in the Agadem Basin, south east Niger.
As with Bushiya-1, it said the well was designed to evaluate potential oil pay in the Eocene Sokor Alternances as the primary target, with the secondary target of potential oil pay in the Eocene Upper Sokor being considered as upside.
Savannah's competent person, CGG Robertson, had assessed total mean unrisked recoverable resources at Amdigh of 39 mmbbls.
Drilling was expected to take between 30 and 35 days, using rig GW-215, with the well design deviated to reach all desired sub-surface objectives.
It was planned to be drilled to a total depth of 2,576 metres.
"The company plans to log all prospective sections within the well, with further logging employed for hydrocarbon bearing sections," the board explained in its statement.
"In the success case, the well will be suspended for future re-entry and further evaluation, which could include well testing and completion using a dedicated testing/workover rig."
Savannah's board said it intended to announce the final well results after the end of drilling and logging operations.
The AIM-traded company said Amdigh-1 is located on the R3 portion of the R3/R4 PSC Area in the Agadem Basin, south east Niger.
As with Bushiya-1, it said the well was designed to evaluate potential oil pay in the Eocene Sokor Alternances as the primary target, with the secondary target of potential oil pay in the Eocene Upper Sokor being considered as upside.
Savannah's competent person, CGG Robertson, had assessed total mean unrisked recoverable resources at Amdigh of 39 mmbbls.
Drilling was expected to take between 30 and 35 days, using rig GW-215, with the well design deviated to reach all desired sub-surface objectives.
It was planned to be drilled to a total depth of 2,576 metres.
"The company plans to log all prospective sections within the well, with further logging employed for hydrocarbon bearing sections," the board explained in its statement.
"In the success case, the well will be suspended for future re-entry and further evaluation, which could include well testing and completion using a dedicated testing/workover rig."
Savannah's board said it intended to announce the final well results after the end of drilling and logging operations.
Related share prices |
---|
Savannah Petroleum (SAVP) share price |
Stock News headlines are gathered from financial news sources around the web. Views and opinions on each item are from their respective authors and website. They are not opinions of LiveCharts.co.uk
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- NEXT share price
- Diageo share price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- THG Share Price
- Aviva Share Price
- Boil Share price
- Easyjet Share Price
- Genedrive Share Price
- SSE Share Price
- IAG Share Price
- Boohoo share price
- HE1 share price
- AVCT share price
- BOOM share price