Houston-based oil and gas company W&T Offshore has encountered ‘strong wet gas shows’ while drilling the ST 224 #1 well located in the South Timbalier 224 lease in the Gulf of Mexico.
W&T Offshore is the operator of the ST 224 lease with a 39 percent stake, while Otto Energy, Houston Energy, and an unnamed private U.S. company hold 25, 11, and 25 percent stakes, respectively.
In an announcement on Wednesday, Otto Energy said that the drilling program was progressing as planned. The well is targeting a large, amplitude-supported, high CGR (condensate to gas ratio) gas condensate exploration prospect in the prolific Bul. 1 trend.
Otto Energy added that the ST 224 #1 well, spud on October 19 , reached a total vertical depth of 8,084 feet and a measured depth of 8,487 feet, and that the 13 5/8″ casing had been run. The rig will drill ahead in a 12 1/4″ hole to intersect the target objective once cementing is complete. The well is targeting 3.2 mmbbls of oil and 90 bcf of gas in a mid-case scenario.
According to the company, elevated wet gas readings were observed from several thin intervals intersected during drilling of the well.
The prospect, which sits in approximately 170 feet of water, is being drilled using the Enterprise 264 jack-up drilling rig. The well has a relatively shallow target depth of 10,800 feet (total vertical depth).
Otto’s managing director, Matthew Allen , said: “Otto is pleased with the progress of the ST 224 #1 well and looks forward to drilling the primary target shortly. We are encouraged by the wet gas indications seen in several thin intervals in the well so far. These indications are consistent with drilling in a prolific hydrocarbon producing basin.”