Savannah Petroleum Hits Oil in Niger
UK-based Savannah Petroleum made an oil discovery in its onshore Bushiya-1 exploration well, the company announced this week.
The results indicate the well encountered 10 meters of net oil bearing reservoir sandstones across two intervals, with excellent quality. In the next stage of exploration, Savannah Petroleum will perform a production test after results of an additional two exploration wells in the same area are complete. The company plans to enable the exploration drilling “to function as a potential production well in the future,” according to a company press release.
The exploration rig is now moving to Amdigh-1 well site, which is just six kilometers from Bushiya.
“In simple terms, I believe the well has demonstrated all of the necessary ingredients for repeatable exploration success to exist in the R3 Area and look forward with encouragement to the remaining wells in our initial campaign, being Amdigh-1 and Kunama-1,” said Steve Jenkins, Chairman of Savannah Petroleum, in the release. “I would also highlight the extensive prospects and leads inventory we have in the wider R3 license area, which we expect to continue to high grade for potential inclusion in future drilling campaigns.”
The well results come just months after Savannah Petroleum completed its acquisition of Seven Energy, an integrated Nigerian oil and gas company. Seven Energy holds interests in two producing onshore oil and gas fields and a 20 percent stake in Accugas, a midstream business in Nigeria.