Otto Energy Discovers Significant Hydrocarbon Pay in Gulf of Mexico

Wedoany.com Report-Oct 23, Australia-based Otto Energy has announced a significant hydrocarbon discovery in the D5, I2 and I3 sand intervals of the F5-ST well in the Gulf of Mexico.

The well, operated by Byron Energy within the South Marsh Island 71 lease, reached a measured depth (MD) of 7,297ft and a true vertical depth of 6,561ft.

Preliminary analysis of logging while drilling data suggests the presence of hydrocarbons in the D5, I2 and I3 sand intervals.

The I2 sand interval, spanning from 6,248ft to 6,290ft MD, shows 13ft of net hydrocarbon pay.

The I3 sand extends from 6,290ft to 6,360ft MD with 22ft of net pay, while the D5 sand has a substantial net pay of 133ft between 7,075ft and 7,204ft MD.

Unexpectedly, the well encountered a high-pressure water sand 60ft below the base of the D5 sand, leading to a delay. Subsequently, the drill string and bottom hole assembly became stuck above the D5 sand.

After unsuccessful attempts to free the pipe, it was cut and the well was cemented off below 3,673ft MD.

The financial impact of this event, including the loss of drilling equipment, is estimated at $2m (A$2.99m) net to Otto.