Australia's Gas2Grid disclosed in a statement Monday that it has recorded very high methane levels at its Gumamela-1 exploration well at a depth of 1,824 feet (556 meters).
The company stated that it will continue drilling the well – sited onshore Cebu Island, in the Philippines – to 2,461 feet (750 meters). Once reaching this depth, it will acquire a suite of open-hole electric logs before setting in a seven inch casing.
Following in which, the well will be drilled to a total depth of between 3,281 feet and 4,265 feet (1,000 meters and 1,300 meters) to test a Miocene age Cebu limestone pinnacle reef, along with secondary targets in the overlying draped sandstone reservoirs of the Malubog and Toledo formations.
The well targets up to 15 million barrels of recoverable oil, and is the second well being drilled in Gas2Grid's current three-well exploration program.
Gas2Grid said in an earlier statement Dec.17 that Gumamela-1 has good prospects for the sandstone reservoirs that will likely be present in the section overlying the limestone reef target; the same sandstones which are oil and gas bearing in the nearby Toledo and Alegria oil fields.
