Takutu drilling fails to find commercial oil deposits

Apr 26, 2011 News

The drilling site at Takutu, Region Nine. (Canacol photo)

– Groundstar eyes another well

Guyana’s hope to find oil in the Region Nine area has been dashed, at least for a while, with the a Canadian drilling company not achieving commercial success at the Apoteri K-2 Exploration Well, Takutu Basin.
Groundstar Resources Limited said that it will be abandoning the well over the course of the next week.
“The consortium is currently evaluating the next exploration drilling location on the block,” a Marketwire release said yesterday.
In March, the Canadian company announced that the K-2 well will be drilled to a measured depth of approximately 3,350 meters (11,000 feet) and will target the same productive reservoirs that tested over 400 barrels of oil per day of 42 degree API light oil from the Karanambo 1 well drilled in 1982 and located 600 meters to the east.
Estimates had attributed gross mean recoverable prospective resources of 128 million barrels of oil.
Drilling had been interrupted in early January 2011 due to the late arrival of some of the permanent camp facilities.
Yesterday, Groundstar said that on Wednesday, it was able to drill to 2,992 metres.
“Although excellent reservoir quality was encountered in this interval of the Apoteri Formation, the reservoir appears to have been penetrated below the oil – water contact, defined by the interval of good oil and gas shows between 2,515 and 2,841 metres.”
Guyana has been actively attempting to find oil, issuing a number of exploratory permits to several overseas companies including CGX Energy Inc., Repso, Exxon and Tullow