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- Five newly quantified shallow oil targets added
- Zydeco sidetrack expands oil and gas evaluation program
- Zydeco-1 well identified and quantified five additional shallow oil targets
- Zydeco-1 result identifies broader opportunity than existed prior to drilling
Galilee Energy (ASX:GLL) has uncovered a significant expansion of the drilling targets at its Zydeco oil and gas project in Louisiana.
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The company now plans to test the upside with a sidetrack of the Zydeco- 1 well which is now designed to evaluate seven separate oil and gas targets from a single wellbore.
Five shallow targets identified by the drilling of the Zydeco-1 well have been estimated to contain a combined gross prospective resource of 317 thousand barrels (kbbl) on a 2U basis and 422.6 kbbl on a 3U basis, materially increasing the number of potential hydrocarbon-bearing intervals available for evaluation during the sidetrack.
“The original Zydeco well has given us substantially more information than we had before drilling,” MD, Joseph Graham, said.
“The sidetrack is now designed to capture that value by testing a broader, stacked target inventory from the shallow oil zones through Stafford and into the Upper Tweedel.
“The new shallow-zone resource estimate adds another dimension to Zydeco. We now have five prospective oil intervals above Stafford and Tweedel, all within the same compact lease position and close to existing Gulf Coast infrastructure.
“Our immediate focus is to finalise the sidetrack design and evaluation program so that if we encounter movable hydrocarbons, we will collect the pressure, fluid and petrophysical data needed to make a disciplined commercial decision.”
Five shallow targets – Borsum, Richie, Discorbis gravelli, First Het and Homeseeker B – have been identified from original-hole logging while drilling (LWD) data. The five zones have been assessed using seismic interpretation together with data from the MacCabees-1, J.D. Sittig #1 and regional wells.
The proposed sidetrack is intended to preserve and re-evaluate the five shallow intervals before continuing to the Stafford level at approximately 9,391.5 ft TVD and Upper Tweedel at approximately 9,579.5 ft TVD.
Exact kick-off point, trajectory, casing design and final total depth remain subject to final drilling-engineering approval.
GLL was steady at 0.4¢ with a Mkt cap of $7.245M prior to markets opening.
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