Tullow Oil abandons Ghanian well
Oil giant Tullow has revealed disappointing results from the Teak-4A appraisal well in the West Cape Three Points Block, offshore Ghana.
Oil giant Tullow has revealed disappointing results from the Teak-4A appraisal well in the West Cape Three Points Block, offshore Ghana.
In a short statement, the group said that Teak-4A, in which it is a 26.396% parter, was drilled by operator Kosmos Energy and was drilled to a total depth of 2,850m to target the stratigraphic extension of the Teak discovery area.
The well was said to have encountered "thin, non-commercial reservoirs" and is, in turn, being plugged and abandoned.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"Kosmos and partners have begun integrating well results into the Teak field model to determine forward appraisal and development plans."
Kosmos and Anadarko Petroleum Corp both own a 30.875% interest each in the West Cape Three Points Block, while Tullow, Sabre Oil & Gas and Ghana National Petroleum Corp own the rest.
BC
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Why undersea cables are under threat – and how to protect them
Undersea cables power the internet and are vital to modern economies. They are now vulnerable
By Simon Wilson Published
-
Vanguard to bring in £4 minimum monthly fee - is it still a cheap deal?
Vanguard is overhauling its charges, with DIY investors set to pay more from January. How will the fees compare to its rivals, and what should customers do?
By Ruth Emery Published