The Directors of Petrel Energy Limited (PRL) are pleased to announce that the final fitout and inspections of the new rig are nearing completion and the rig mobilisation process has commenced with the first shipment having left the Colorado overnight. Trucking of all rig components to Houston Harbour will take place over the coming 2 weeks with the ship scheduled to sail 11th March 2017. Regular updates will be provided from shipping through to
site preparations and spudding of the first well.
Managing Director, Mr David Casey, said “with the mud pump already on the water, the New Force rig fitout almost complete and shipping having commenced we are excited for what the second quarter of 2017 holds. With multiple wells and multiple targets, on huge acreage 2017 is shaping up as a breakout year for Petrel at a time when the global energy thematic is improving”.
Petrel’s overarching vision for Uruguay is to drill four wells as cheaply as possible and cover as much of the concession area as possible while targeting multiple and different conventional exploration objectives within and across each well. More specifically the programme will seek to answer questions from the 2015 partner process such as:
- confirm source rock maturity, quality and extent
- confirm conventional reservoir quality and extent – Darcy permeability (>1000md)
already measured in core samples 30km apart
- confirm migration and potential trap integrity - while not the primary objective 3 of the 4 wells are also targeting conventional structures for oil and gas trapped in either the same sequence or up-dip of oil shows and/or weeping core samples as well as provide new insights into the regional geology of this largely unknown sub-basin of the larger Parana Basin
- confirm validity of AVO anomalies identified on seismic
