InterOil: Antelope-7 sidetrack drilled after initial well came up dry

Papua New Guinea-focused player InterOil said that the Antelope-7 sidetrack appraisal well reached 1,989 meters at the end of January and is drilling ahead in the Orubadi formation. 

The well is designed to provide structural control and reservoir definition on the field’s western flank, InterOil said in the latest drilling update.

The initial Antelope-7 well had reached 2,127 meters measured depth below rotary table on December 22, encountering difficulties in the Orubadi formation.

Total E&P PNG, the operator of Petroleum Retention License 15 in the Gulf Province of Papua New Guinea commenced the Antelope-7 sidetrack appraisal well.

The well has a proposed total depth of around 2,300 meters and is located about 1.45 km west-south-west of Antelope-5.

InterOil holds a 36.5375 percent interest in the well, with Total E&P PNG owning a 40.1275 interest, Oil Search holding 22.8350, while the remaining 0.5000 percent is held by minority parties.

InterOil is currently in the midst of a $2.5 billion takeover by the US-based energy giant ExxonMobil.

The company recently urged shareholders to vote prior to the upcoming special meeting scheduled for February 14, 2017.