Inconclusive, so far, for Nido at Galoc

NIDO Petroleum’s big gamble on the Galoc-7 well, which needs to come in to extend the life of the Galoc field in the Philippines, has proved inconclusive so far.
Inconclusive, so far, for Nido at Galoc Inconclusive, so far, for Nido at Galoc Inconclusive, so far, for Nido at Galoc Inconclusive, so far, for Nido at Galoc Inconclusive, so far, for Nido at Galoc

Staff Reporter

The company, which is now almost entirely controlled by Thai-based Bangchak Petroleum, said the well reached total depth of 2373mm, having drilled into the Galoc clastic reservoir finding a net 8m comprising primarily of poor quality sandstone and claystone. 
 
Preliminary data indicates the reservoir unit contains hydrocarbons and water.
 
At this stage the Galoc-7 well results are inconclusive in terms of the potential commerciality of the Galoc Mid Area.
 
The Deepsea Metro I rig is now in the process of plugging and abandoning the Galoc-7 well and preparing to drill out the Galoc-7ST-1 well in the Galoc Central Field Area as planned.
 
Nido holds a combined 55.88% participating interest in the well.

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