Key Highlights

  • The planned Zydeco-1 sidetrack has been expanded from its original scope into a seven-target oil and gas evaluation program from a single wellbore.
  • Technical analysis of data from the original Zydeco-1 well has identified and quantified five additional shallow oil targets above the previously targeted Stafford and Upper Tweedel intervals.
  • The five newly identified shallow targets contain a combined gross Prospective Resource of 317.0 kbbl on a 2U basis and 422.6 kbbl on a 3U basis.
  • Gas readings while drilling indicated the original well was terminated within the Stafford Formation, with a direct analogue well, R.L. Bucklin #1, having tested 1.2 MMscf per day of gas and 48 barrels per day of condensate from an 8-foot interval.

Galilee Energy Limited (ASX:GLL) has announced a significant expansion of the opportunity at its 100%-owned Zydeco Oil and Gas Project in Louisiana, with the planned Zydeco-1 sidetrack now designed to evaluate seven separate oil and gas targets from a single wellbore. The company said this represents a substantially broader opportunity than existed prior to the original drilling, encompassing potential oil targets in the shallower section of the well, gas-condensate potential at the Stafford Formation, and the high-impact Upper Tweedel gas objective.

Five New Shallow Oil Targets Identified

Technical analysis of data acquired from the original Zydeco-1 well has identified and quantified five additional shallow oil targets situated above the previously targeted Stafford and Upper Tweedel intervals. Combined, these five shallow targets contain a gross Prospective Resource of 317.0 kbbl on a 2U basis and 422.6 kbbl on a 3U basis, materially increasing the number of potential hydrocarbon-bearing intervals available for evaluation during the upcoming sidetrack.

Stafford Formation Gas-Condensate Potential

Gas readings recorded while drilling the original well indicate that it was terminated within the Stafford Formation. The company pointed to a direct Lower Frio Stafford analogue well, R.L. Bucklin #1, which tested 1.2 MMscf per day of gas and 48 barrels per day of condensate from an 8-foot interval, as a reference point for the gas-condensate potential at the Stafford level within the Zydeco structure.

Broader Opportunity Across the Wellbore

The company said the combined result of the shallow oil target quantification and the Stafford Formation gas readings is a substantially broader opportunity at Zydeco than existed prior to drilling, with the planned sidetrack now providing multiple potential pathways to commercial success from the single wellbore. This includes the newly quantified shallow oil targets, gas-condensate potential at Stafford, and the primary Upper Tweedel gas objective that was the original focus of the well.

Conclusion

Galilee Energy has materially expanded the scope of its planned Zydeco-1 sidetrack, moving from a program focused primarily on the Stafford and Upper Tweedel intervals to a seven-target evaluation encompassing five newly quantified shallow oil targets, gas-condensate potential at Stafford, and the original Upper Tweedel gas objective. The company has framed this as a substantially broader opportunity than existed before the original well was drilled, with the shallow targets alone estimated to hold a combined Prospective Resource of 317.0 kbbl to 422.6 kbbl.