W&T Offshore is set to spud its latest well in the South Timbalier 224 (ST 224) lease in the Gulf of Mexico later this month, according to partner Otto Energy.
“The Enterprise 264 jackup drilling rig is expected to be on location within the coming week in preparation for drilling of this well,” says Otto.
Drilling will target a large, amplitude supported, high CGR (condensate gas ratio) gas condensate exploration prospect located in the prolific Bul. 1 trend.
The prospect, which sits in approximately 170ft of water, will be drilled using the Enterprise 264 jackup. The well has a relatively shallow target depth of 10,800ft (TVD) (11,439ft (MD)) and is expected to take around 55 days to drill and evaluate.
“Given the high chance of success of this opportunity, the well has been planned so as to optimize a subsequent development. Should significant hydrocarbons be intersected, the plan is to accelerate development by completing this first well as a producer,” says Otto. “Several existing production platforms fall within tie-back distance of the exploration well providing multiple options for rapid development. Otto is confident that a discovery can be brought on to production quickly and cost effectively.”
Otto holds a 25% working interest in ST 224, which is operated by W&T Offshore.
Map of ST 224, from Otto.