Ghana Discovers More Oil

US-based explorer, Hess, has announced that it has found oil at Pecan-1 exploration well located in the Deepwater Tano/Cape Three Points license offshore Ghana.
The company said the well encountered “245 net feet of oil pay in two separate Turonian intervals”.
A statement issued by the company yesterday, said the Pecan-1 well was drilled to a total depth of 15,420 feet in a water depth of 8,245 feet.
It said the well has been sidetracked to obtain bypass cores and is now being suspended.

The statement said Pecan-1 is Hess’ fifth discovery on the block and follows the previously announced discoveries at Almond (53 net feet oil pay), Beech (146 net feet oil pay), Hickory North (98 net feet gas condensate pay) and Paradise (120 net feet oil pay and 295 net feet gas condensate pay).
Hess currently has a 90 per cent interest in the block while the Ghana National Petroleum Corporation (GNPC) holds the remaining 10 per cent.
The company said it would next drill the Cob prospect, located approximately 15 miles northeast of the Pecan-1 discovery and that pre-development and further exploration activities are planned in 2013.
Meanwhile share of Hess rose on the New York Exchange 2.9 per cent following the announcement of Ghana’s discovery.