Canadian Superior's Bounty finds gas off Trinidad
Canadian Superior has reported a major natural gas discovery on Intrepid Block 5(c) off eastern Trinidad and Tobago.
PORT OF SPAIN, Aug. 14 -- Canadian Superior has reported a major natural gas discovery on Intrepid Block 5(c) off eastern Trinidad and Tobago. The company said the discovery, which it said has the potential for as much as 2.6 tcf of original gas in place, was made by the Bounty exploration well.
Bounty was drilled to 17,360 ft TD, encountering gas-bearing horizons, with the main targeted zone in the well encountering about 200 ft of pay.
According to the company, initial test results indicate that Bounty is capable of producing 200 MMcfd of gas from this high-pressure zone. Production testing equipment capacity was maximized during testing, restricting flow to a stabilized 60 MMcfd of gas, with a flowing bottomhole pressure of 7,186 psi.
The Bounty find is the second gas discovery Canadian Superior and its partners have made this year on Intrepid Block 5(c), which lies 60 miles off eastern Trinidad. The first discovery, by the Victory well, was estimated to contain 600 bcf-1.2 tcf of gas.
Canadian Superior Chief Executive Craig McKenzie said the Bounty discovery "in combination with our extensive 3D seismic data in the area, appears to exceed 7,000 acres in size."
Production potential, he said, "compares favorably with production from the nearest analogous field, Dolphin Deep," where each of the two wells produce at about 150 MMcfd, he said. "We plan to move forward expeditiously with appraisal and development drilling and production."
Operations are under way to demobilize the testing equipment and move the Kan Tan IV semisubmersible drilling rig to spud a third exploration well, the Endeavour, on the block by the end of August.
Canadian Superior is paying 26.66% of the Block 5(c) exploration program costs to maintain a 45% working interest in the block, with partners BG International Ltd. paying 40% for a 30% working interest and Challenger Energy Corp. paying 33.33% for a 25% working interest.