BW Energy: Hibiscus South pilot well confirms hydrocarbons
08 Mai 2024 - 4:35PM
BW Energy: Hibiscus South pilot well confirms hydrocarbons
BW Energy: Hibiscus South pilot well confirms
hydrocarbons
BW Energy is pleased to announce that the DHBSM-2P pilot well
confirms that the Hibiscus South deposit extends into the northern
part of the field with good reservoir quality, increasing reserve
estimates. The Company plans to complete the well as a production
well later in 2024.
The DHBSM-2P pilot was drilled from the MaBoMo production
platform to a total depth of 5,130 metres. The target area is
located approximately 3.2 kilometres west-northwest of the MaBoMo
and was drilled by the Borr Norve jack-up rig. Evaluation of
logging data, sample examination and formation pressure
measurements confirm approximately 25 metres of pay in an overall
hydrocarbon column of 35 metres in the Gamba formation.
The well data provides additional confirmation that the Hibiscus
South structure is a separate accumulation with a deeper oil-water
contact than the nearby Hibiscus Field. This will enable the
Company to book additional reserves not currently included in its
annual statement of reserves and provide the opportunity to drill
one or more additional production wells from the MaBoMo
facility.
“We continue to increase the production and reserve base through
low-cost and low-risk development activity in line with BW Energy’s
strategy,” said Carl K. Arnet CEO of BW Energy. “The Hibiscus South
pilot well is another confirmation of the significant potential of
the Dussafu licence which holds multiple additional prospects.”
Preliminary evaluation indicates gross recoverable reserves of 5
to 6 million barrels of oil and approximately 14 million barrels of
oil in place.
For further information, please contact:
Knut R. Sæthre, CFO BW Energy, +47 91 11 78 76 or
ir@bwenergy.no
About BW Energy:
BW Energy is a growth E&P company with a differentiated
strategy targeting proven offshore oil and gas reservoirs through
low risk phased developments. The Company has access to existing
production facilities to reduce time to first oil and cashflow with
lower investments than traditional offshore developments. The
Company’s assets are 73.5% of the producing Dussafu Marine licence
offshore Gabon, 100% interest in the Golfinho and Camarupim fields,
a 76.5% interest in the BM-ES-23 block in, a 95% interest in the
Maromba field in Brazil and a 95% interest in the Kudu field in
Namibia, all operated by BW Energy. Total net 2P+2C reserves and
resources were 580 million barrels of oil equivalents at the start
of 2024.
This information is subject to the disclosure requirements
pursuant to Section 5-12 of the Norwegian Securities Trading
Act.
BW Energy (TG:6BW)
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