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Tullow Oil PLC - London-based oil and gas exploration company - Completes drilling at Beebei-Potaro exploration well, in Kanuku license, offshore Guyana. Says primary and secondary targets were water-bearing, but notes good quality reservoir at both targets. The well is now plugged and abandoned. It was drilled to a total depth of 4,325 metres in 71 metres of water by the Noble Regina Allen rig.
‘Tullow will integrate the well results into its regional subsurface models and work with its joint venture partners before deciding on next steps,’ the firm says.
Tullow holds a 37.5% working interest in the Kanuku license, with operator Repsol also holding 37.5% and TOQAP holding 25%.
Current stock price: 48.98 pence, down 2.8% on Friday
12-month change: up 4.4%
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