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LGO Energy: Goudron update

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Oilfield Technology,

LGO Energy plc has provided an update on well maintenance and recompletion work plans previously announced on 14 and 31 March 2016, with the mobilisation of a second rig to the Goudron Field in Trinidad.

LGO's local subsidiary, Goudron E&P Limited, has mobilised a second workover rig to the field. The Altech-1 rig will be working alongside the existing rig, Altech-2, to deliver an accelerated well maintenance programme and various well recompletions, starting with the Goudron Sandstone in well GY-50.

LGO is also considering mobilising the company-owned workover rig, Columbus-1, to the field to provide further capacity over the next few months.

Neil Ritson, LGO's Chief Executive, commented:

"As a response to the recently announced reduction in over-riding royalties on Goudron oil and to a firmer oil price, work has begun on accelerating the restoration of production levels at Goudron. This increased activity has seen us require additional rig capacity and I am delighted that we can now report that we have a second rig back in the field."

Adapted from a press release by Louise Mulhall

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