Rhino Resources, the operator of the petroleum exploration license (PEL85), and its partners have found oil in the Capricornus 1-X well in Orange Basin, offshore Namibia.
The Capricornus 1-X well, spudded on February 17, using Noble Corporation’s Noble Venturer drillship, reached total depth on April 2, successfully penetrating the Lower Cretaceous target.
The well found 38 m of net pay, with the reservoir showing good petrophysical properties and no observed water contact.
Hydrocarbon samples and sidewall cores were collected through intensive wireline logging operations, according to Eni, which together with BP, owns Azule Energy, that holds 42.5% working interest in the Petroleum Exploration License 85 (PEL85), where the well was drilled.
In addition to wireline acquisition, the well successfully completed a production test across the light oil-bearing reservoir.
The well achieved a surface-constrained flow rate in excess of 11,000 stb/d on a 40/64-inch choke.
The light 37° API oil exhibited limited associated gas with less than 2% CO2 and no hydrogen sulphide. Laboratory studies will be conducted on fluid samples collected during the test, Eni said. The well will now be temporarily plugged and abandoned and the rig will be released.
This is the second oil find as part of 2025 drilling campaign Rhino Resources and its partners are conducting at PEL85. The first was reported in February 2025, following the drilling of the Sagittarius 1-X well.
Rhino Resources has an operating working interest of 42.5% in PEL85, with co-venturers Azule Energy (42.5%), Namcor (10%), and Korres Investments (5%).