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    Eco Atlantic Reveals Gas Potential Offshore Guyana


First well on block to spud in June.

by: Pietro D. Pitts

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Natural Gas & LNG News, Americas, Corporate, Exploration & Production, News By Country, Latin America

Eco Atlantic Reveals Gas Potential Offshore Guyana

Eco Atlantic Oil & Gas said March 18 an assessment of its 15% net interest in the Orinduik Block offshore Guyana revealed best estimates of unrisked prospective associated natural gas resources of 426.4bn ft3 (2,842.6bn ft3, gross).

The assessment, provided by Boulder, Colorado’s Gustavson Associates, follows completion of the processing of 2,550 km2 of 3D seismic, Eco said. Net low and high gas estimates for the block were 210.2bn ft3 and 799.3bn ft3, respectively, with the possibility of success associated with the block ranging between 16.8% and 81%.

“As the regional play continues to develop, and more discoveries have been made, particularly in the Tertiary play, as was proven by Exxon’s Hammerhead 1 discovery, this has allowed us to build upon our model,” Eco co-founder and COO Colin Kinley said.

Guyana’s Orinduik Block is adjacent to and updip of the deep-water Liza Field and the Snoek, Payara, Pacora, Turbot, Longtail and Hammerhead discoveries recorded recently by ExxonMobil and Hess Corporation.

Partners in the block include operator Irish Tullow Oil with a 60% interest, French Total with a 25% interest, and Eco with the remaining 15%.

“Our first drill target scheduled for June is Jethro,” said Kinley. “The partners are in the process of approving a second well, and we hope to confirm drilling plans for well number two in the near future to take advantage of the economics of our rig on the block.”