Seplat Energy Plc has revealed its drilling program for 2024, aiming to deliver 13 new oil and gas wells across its operated and non-operated assets. The company disclosed this information in its unaudited results for the first quarter ending March 31, 2024.
Out of the 13 planned wells, 11 will focus on oil production, while 2 will target gas production. In the first quarter of 2024, Seplat successfully delivered one well, Ovhor21, from its 2024 drilling program, and completed two wells, Okporhuru-9 and Sapele-37, which showed promising results.
Seplat Energy Plc expressed satisfaction with the discoveries in both Okporhuru-9 and Sapele-37, highlighting the discovery of predominantly gas hydrocarbons in deeper formations. The Sapele-37 well, in particular, confirmed the extension of the Sapele field to the north, Further technical analysis is underway to evaluate the potential of these discoveries and the broader OML41 area at greater depths.
Looking ahead, Seplat plans to complete the remaining 12 wells on its 2024 drilling plan, with three wells expected to be completed during the second quarter. These efforts aim to bolster production volumes later in the year. Additionally, the company announced an executive order that could enhance its contracting procedures, contributing to cost reductions.
Source: Punch