Trinity Exploration & Production has commenced drilling of the deep 'Jacobin' prospect.
Jeremy Bridglalsingh, Chief Executive Officer of Trinity, commented:
'Jacobin is a significant well and potential growth catalyst for Trinity. Jacobin is targeting virgin-pressured reservoirs with higher initial production rates than conventional wells and offers Trinity the potential for reduced payback cycle times and a meaningful production increase.
The focus on this new Miocene play, with Jacobin being the first well, demonstrates our real intent to rapidly exploit our competitive edge onshore Trinidad where we can immediately progress from the drilling phase to production.
More importantly, we plan to acquire geological data from the well which will enable us to calibrate the prospectivity across the area following our 2020 purchase and subsequent interpretation and mapping of the Palo Seco NWD 3D seismic dataset.
A successful well would unlock both a development of the Jacobin prospect itself and follow-on drill-ready prospects and mapped leads across our core onshore acreage including Emerald and Woodstar. As we look to strengthen our footprint in this play, the technical work undertaken for Jacobin also formed a key part of our evaluation and application for the adjacent Buenos Ayres block.'
Located in Trinity’s Palo Seco Lease Operatorship area, the Jacobin well has been designed to test an extensive and lightly-drilled Miocene age deeper turbidite play mapped across the prolific southern onshore basin and will provide the Company with critical new data on this extensive play and the wider Palo Seco acreage. Trinity has a 100% interest in the Palo Seco area sub-licences, where nine deeper prospects have already been mapped.
The well is targeting a structural prospect defined on 3D seismic, with target reservoirs in the Lower Cruse formation. Reaching a Total Depth (“TD”) of 9,800 feet, Jacobin will be the deepest onshore oil well drilled in the Palo Seco area in over a decade.
The target volume of resources to be exploited is significant and highly material for Trinity, with a mean oil in-place volume of 5.7 million barrels and an upside (P10) case of over 10 million barrels in-place.Trinity is pleased to report that the well was spudded on Monday 15 May 2023 and is currently drilling ahead. The Company anticipates the well should reach the primary target zones within thirty-five days, before an extensive programme of data collection will be initiated.
The Jacobin well is a one of only a few deep penetrations of the Miocene-age section in the Palo Seco area and a comprehensive data acquisition plan is in place which will include a full wireline logging suite and coring of the reservoir sections. The data collected will be invaluable in the further evaluation of Trinity’s portfolio of eight other Miocene “Hummingbird” prospects mapped within its existing acreage, including Emerald and Woodstar, and other prospects mapped on the Buenos Ayres Block which formed an important element of our bid on this block.
Source: Trinity Exploration
