Rhino lines up Capricornus appraisal well
Rhino Resources Ltd Namibia has commenced drilling of the Capricornus-1A appraisal well on Block 2914 in the offshore Orange Basin, targeting the extension of the Capricornus light oil discovery.
The well is being drilled using the Saipem 12000 drillship under the petroleum exploration licence (PEL) 85 Joint Venture, which Rhino operates with a 42.5% working interest. Co-venturers are Azule Energy (42.5%), NAMCOR (10%), and Korres Investments (5%).
Capricornus-1A is designed to evaluate the lateral extent of the accumulation and further appraise reservoir quality and fluid characteristics within the Lower Cretaceous targets. The well builds on results from the earlier Capricornus-1X discovery well and forms part of Rhino and its joint venture partners' ongoing programme to advance understanding of the PEL 85 licence area.
Rhino Resources' CEO Travis Smithard said the well represented a critical data point in defining the development potential of the Capricornus reservoir system and its potential integration with other discoveries made on PEL 85.
"The wireline and drill stem data gathered will be analysed in light of flow assurance, geomechanical and fluid characteristics. These fluid and dynamic datasets will assist in our ongoing evaluation of the Capricornus discovery and, together with insights from recent wells, will help inform our approach to the further appraisal and development of the broader acreage in collaboration with our partners Azule Energy, NAMCOR and Korres Investments," Smithard said.
The Capricornus-1A campaign is designed to test the potential extension of the accumulation while continuing to refine the joint venture's understanding of reservoir and fluid distribution across the block, following the drilling success recorded at Capricornus-1X.
