By OGJ editors
HOUSTON, July 25 -- Leni Gas & Oil PLC took a farmout from Advance Oil Co. (Trinidad) Ltd. to rework existing wells and drill as many as nine new wells on North Moruga area leases in the central part of Trinidad’s southern basin.
Leni Gas will become operator and likely drill the first new well near the end of 2011 after receiving regulatory approvals and assignments. North Moruga is the first of a number of new opportunities the company is negotiating in Trinidad.
The company said the Advance leases are in a highly prospective and underexplored part of the southern basin with several undrilled structures. Leni Gas will drill at least three exploratory wells and as many as six development wells to earn 33-49% interest in the leases. Short-term production potential from the existing wells is estimated at 120 b/d of oil.
Advance has held the leases for years and has integrated all existing geological and production data and drilled three exploratory wells. The leases cover 1,223 acres less than 5 km east of West Moruga field, which has produced 25 million bbl of oil, and 3.5 km west of Innis, Antilles, and Trinity fields, which have produced a combined 15 million bbl.
Dreamstime | © Charles Montgomery.
Photo from SABIC Limburg BV.
