Otto Energy Limited has announced that drilling of the ST 224 #1 well has commenced within the South Timbalier 224 (‘ST 224’) lease in the Gulf Of Mexico shelf, the company said in its press release.
Drilling is targeting a large, amplitude supported, high CGR (condensate gas ratio) gas condensate exploration prospect located in the prolific Bul. 1 trend. Otto holds a 25% working interest in ST 224 which is operated by W&T Offshore.
The Operator advised overnight that the ST 224 #1 well had commenced and as at 6am on 19 October US Central Daylight Time the well was at 1,240 feet. 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 10,8 00ft (TVD) ( 11,439ft (MD) ) and is expected to take around 55 days to drill and evaluate.
