Predator Oil & Gas Holdings plc has received some well services equipment and started preparations to re-enter and perforate the MOU-3 well, ahead of Sandjet rigless testing.
INTERVALS
Operations are expected to last at least five weeks before the company moves to the next well in the programme on the Guercif licence.
The Sandjet’s primary objective is to reach beyond the zone of formation damage, caused by the need for “over-balanced drilling” during drill operations, which prevented the well from flowing gas.
Predator expects to perforate separately up to three intervals to collect and analyse pressure data.
The number of Sandjet perforating runs to perforate additional sands will depend on the outcome of initial results.
Estimates of potential for the middle sequence, over a gross interval of 80m, is potentially a compressed natural gas of 10 to 20 million cf/day.
The lower sequence will be perforated over a gross interval of 24m and may see an increase in estimates of potential gas of 50 million cf/day.
After completing the MOU-3 rigless well testing, the company will decide whether to move next to either MOU-1 or MOU-4.
TITANOSAURUS
Following delays to the Star Valley rig 101 due to other commitments, drilling is expected to begin on the Jurassic MOU-5 well in the ‘Titanosaurus structure’,
The Titanosaurus structure covers up to 187km2 and has up to 289m of vertical relief.
Predator said that average well depths to penetrate the entire prospective interval were 800 to 1,100m measured depth, with 12 to 14 days’ estimated drilling.
Chances of success are “better than 50%” with MOU-5 located immediately updip from MOU-4, which helped define the target for MOU-5.
The company has also started to source from overseas a rig with related well services to bring to Morocco, following frustrations of scheduling 2024 drilling.
Sole control of a rig will progress a potential Titanosaurus step-out drilling campaign and further appraisal drilling of gas targets within and next to the Moulouya structure.
The company plans to source an additional rig for future appraisal drilling.
“The potential multiple returns on investment on successfully drilling and flowing gas from the Titanosaurus structure are difficult to match in any other industry,” added executive chairman Paul Griffiths.
“A favourable fiscal regime, proximity to infrastructure with significant under-utilised capacity, low development costs and a tangible contribution to the energy transition combine to enhance the immediate opportunity that Titanosaurus presents.”
Predator is fully financed for all its near-term operations and after the first two well workovers at its Trinidad licence will reassess funding for the next 12 months.