Sub-Saharan African explorer Erin Energy Corporation has stated that the Oyo-8 well located in OML 120 offshore Nigeria has ‘exceeded expectations’ and is currently producing, at a stabilised rate, 7,080 barrels of oil per day (boepd)
Erin Energy Corporation senior vice-president of exploration and production Segun Omidele said, “We are pleased with the Oyo-8 well’s performance and delighted that well parameters are stable. We plan to continue this cautious well management approach and expect to bring Oyo-7 on production in a similar manner. We are advancing both our development and exploration work offshore Nigeria and look forward to an exciting second half of 2015.”
Erin Energy Corporation is the operator and has a 100 per cent interest in the well, and is currently engaged in drilling and completion operations on the Oyo-7 development well. First oil production from the well is expected in a few weeks.
In addition, the company has completed site survey of three of its top prospect drilling locations, in pursuit of the planned drilling of one of its Miocene exploration prospects.
In 2014, Erin Energy had identified and high-graded to drill-ready status, four Miocene exploration prospects, which have a combined 2.4bn barrels of recoverable P50 prospective resources.