Latest update December 16th, 2024 9:00 AM

Guyana's largest selling daily and New York's most popular weekly

Latest News

Eco Atlantic upbeat as drilling operations begin at Jethro-Lobe

Jul 06, 2019 News

Eco Atlantic Oil & Gas announced on Friday that drilling operations had started offshore Guyana, with the spudding of the first exploration well on its Jethro-Lobe prospect on the Orinduik Block.
The AIM-traded firm said Jethro-Lobe was spud at 22:45 local time in Guyana on July 4, using the Stena Forth drillship.
It said itself and its partners on the Orinduik Block, the operator Tullow Guyana with a 60% working interest, and Total E&P Guyana with a 25% working interest, estimated the well would take up to 40 days to drill.
Jethro Lobe was the first prospect to be drilled as part of a two-well programme, and would be immediately followed by the drilling of an exploration well on the Joe prospect.
Eco said it was fully funded for its share of up to six potential exploration or development wells on the Orinduik Block, in addition to the Jethro Lobe and Joe exploration wells, as it announced on 10 June.
“Today Eco Atlantic’s first Guyana well has been spud, three years ahead of our petroleum agreement commitment,” said Eco Atlantic chief executive officer Gil Holzman.
“This is the start of a hugely exciting time for the company.
“Jethro Lobe will test the Lower Tertiary aged turbidites, as well drilling down into the Cretaceous.”
As such, Holzman said the company was awaiting the well results with “great anticipation”, as they would give it a greater understanding of the geological plays.
“The huge success which ExxonMobil has had on the neighbouring Stabroek Block, has aided our geological assessment of the many similar channel systems in our Orinduik Block.
“With 15 leads and prospects identified on the Orinduik Block, and funding to drill six potential exploration wells beyond the two currently planned, this is only the start of a fascinating and potentially transformational time for the company.” (Sharecast.com)

Similar Articles

The Glenn Lall Show | December, 2nd, 2024

Follow on Tik Tok @Glennlall

 

THE BLUNT OF THE DAY

Sports

Annai Sec’ plummet to 6-2 defeat as Speyside topple Dolphin 3-1

Annai Sec’ plummet to 6-2 defeat as Speyside topple Dolphin 3-1

Dec 16, 2024

As Petra’s Fifth Annual Goodwill Int’l Series gets underway Kaieteur Sports- It was a kaleidoscope of colours at the Queen’s College ground on Sunday as the Petra Organisation kicked off its...
Read More
Queen’s College captures 2024 Georgetown Inter-Schools Chess Title

Queen’s College captures 2024 Georgetown...

Dec 16, 2024

Rodrigues, Sadhu hand India big win on belter

Rodrigues, Sadhu hand India big win on belter

Dec 16, 2024

Teams ready to rumble in the KFC Int’l Goodwill Series

Teams ready to rumble in the KFC Int’l Goodwill...

Dec 15, 2024

Georgetown Mayor Alfred Mentore launches City’s U17 Cricket Cup

Georgetown Mayor Alfred Mentore launches City’s...

Dec 15, 2024

GGA looking to continue growth, following National Sports Awards 

GGA looking to continue growth, following...

Dec 15, 2024

Features/Columnists

Publisher’s Note

Freedom of speech is our core value at Kaieteur News. If the letter/e-mail you sent was not published, and you believe that its contents were not libellous, let us know, please contact us by phone or email.

Feel free to send us your comments and/or criticisms.
Contact: 624-6456; 225-8452; 225-8458; 225-8463; 225-8465; 225-8473 or 225-8491.
Or by Email: [email protected] / [email protected]

Weekend Cartoon

Bridge Watch

Demerara Harbour Bridge

> Berbice Bridge […]