Predator Oil & Gas Holdings (LSE:PRD) has revealed that its MOU-6 well in Morocco has failed to flow hydrocarbons despite successful perforation, with testing pointing to a combination of low permeability and low gas saturation at the tested interval.
The London-listed oil and gas company, which has producing fields in Trinidad alongside its Moroccan exploration programme, said the well was perforated under-balanced across 19.8 metres of the TGB-6 Fan interval between 825.7 and 845.5 metres.
A formation pressure of 1195 psi was recorded at 813.27 metres, but the reading had not fully stabilised, and nitrogen lift recovered only diesel and brine from the completion fluid rather than any formation inflow.
Predator listed four possible explanations, ranking "combined low permeability with low gas saturations" as the most likely, extreme low permeability as possible, mechanical blockage from collapsed perforating tunnels as possible, and severe formation damage as unlikely.
Processed well logs for MOU-6 showed markedly lower computed permeability, gas saturation and porosity than those recorded at MOU-1, MOU-3 and MOU-4, which the company said correlates closely with the well's poor performance.
MOU-6 drilling began on 19 September and reached a total depth of 950 metres in mid-October, with the well encountering the top of the TGB-6 Submarine Fan at a thickness of 21.2 metres, thicker than the 13.2 metres seen at MOU-3 and in line with pre-drill forecasts at the time.
Despite the lack of inflow, Predator said MOU-6 and the post-well data will feed into a planned independent study of unconventional gas potential across the MOU-1, MOU-3 and MOU-6 area, calibrated against producing analogues in eastern Romania and western Ukraine.
The well has been suspended to allow for potential deepening to the TGB-4 interval, and shallow gas shows of up to 2.69% have been sampled for compositional analysis.
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- 14/10/26Predator Oil & Gas completes MOU-6 drilling in Morocco
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Predator said MOU-6 has satisfied its remaining work commitment under the First Extension Period of its Petroleum Agreement, and that six wells drilled in the licence area to date have established new prospective plays mainly in the Tertiary, with the Jurassic and Triassic sections still to be evaluated and salt already confirmed.
Chief executive Paul Griffiths said the company was "naturally disappointed that MOU-6 has not delivered in line with pre-drill expectations", though he said the perforation and well data would help calibrate gas potential interpreted from log analysis at MOU-1, MOU-3 and MOU-4.
Griffiths said the company's focus now shifts to partner negotiations, while its operating team transfers to Trinidad for drilling preparations at the Snowcap-3 well, and confirmed the first of two deferred consideration instalments for last year's acquisition of Challenger Energy Group's Trinidad business and assets has been completed.