Karoon announces preparation for new drilling operation in Campo de Neon, after successful results from pioneer well Neon-1 in Santos Basin

The company reached optimistic results in drilling the first well in Campo de Neon in recent weeks. Now, Karoon has announced that it will proceed with the exploration campaign in the Santos Basin area with new drilling to follow.

The week ended with great results for the Karoon oil company's exploration campaign in the Santos Basin. A company is preparing to proceed with drilling operations in Campo de Neon, after the success of the pioneer well Neon-1. The company is very optimistic about the next steps of its oil and gas exploration campaign in the Santos Basin, which should continue throughout the year.

After good results in the pioneer well Neon-1, Karoon is preparing to continue the drilling campaign in Campo de Neon, in the Santos Basin 

The Karoon oil company has been investing heavily in oil and natural gas exploration in the Santos Basin region.

Now, she informed the preliminary results of the drilling of the first well in the Neon area, located in the basin.

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According to the company, the first well to be drilled at the site, Neon-1, reached a final total depth of 2.382 meters in measured depth, thus ensuring good initial results.

Furthermore, Karoon confirmed the presence of more than 25 meters of net pay (producing layer) during the drilling operation.

These numbers reveal the positive potential for oil and gas exploration in the Campo de Neon region.

“Although the assessment is ongoing, preliminary analysis of logging-while-drilling (LWD) and wireline data available to date, including preliminary inspection of entire core samples, confirms that the primary Paleocene sandstone target zones are present and containing oil at this location,” the company said.

After the initial positive results, the company is getting ready to proceed with the campaign and start drilling the Neon-2 well in the Santos Basin area.

The forecast is that Karoon will begin activities at Campo de Neon by the end of February.

With that, it will continue with its efforts and investments to explore the fuel reserves available in the area.

Drilling of the Neon-2 well in Campo de Neon will continue the company's search for new results in the Santos Basin

With the good results of the first well drilled in Campo de Neon, Karoon is focusing its efforts on continuing the campaign.

The objectives of Neon-2 will be to determine the quality and continuity of the Paleocene units and to determine the Paleocene pressure connectivity with the two wells drilled to date.

In addition, the oil company expects to operate in an even deeper exploration area in the new well in the Santos Basin.

She highlighted that she is purchasing a profiling set that will provide the necessary data for the campaign to continue.

“As soon as the logging is completed, the rig will be mobilized to the Neon-2 well site, with the expectation that the well will begin drilling before the end of February,” said Karoon Executive Director Julian Fowles.

Karoon's projections for the Santos Basin area are 30 million barrels (1c), 55 million barrels (2C) and 92 million barrels (3C), as of May 2018.

Now, it will continue the drilling campaign with the new well in Campo de Neon in the coming months.