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Sintana Energy eyes new discoveries with Galp's four-well program and Chevron's Namibia drilling – ICYMI
CVXChevron(CVX) Proactiveinvestors NA·2024-09-28 15:03

Drilling Campaigns - Sintana Energy Inc is preparing for high-impact drilling campaigns, with operator Galp initiating a four-well program targeting the Mopane complex in November, involving both exploration and appraisal drilling [1][2] - Chevron is launching its own drilling campaign in Namibia on an adjacent license using the Deepsea Bollsta rig, also starting in November [1][3] - The company previously announced multiple light oil discoveries at PEL83, including one extending eight kilometers with a flow test producing 14,000 barrels of oil equivalent per day [2] Industry Activity - TotalEnergies SE is drilling an exploration well near Sintana's lease line, while companies like Rhino and BW Energy are conducting 3D seismic surveys and planning exploration drilling [3] - Chevron conducted a $40 million 3D seismic survey over the block adjacent to PEL83 [3] Investor Interest - Sintana Energy Inc received significant investor interest at the Pareto Energy Conference in Oslo, with close to 2,000 attendees and record attendance for the second consecutive year [1] - The company had many one-on-one meetings and a full room for its presentation at the conference [1] - Global interest in the company's work is increasing due to underinvestment in exploration and a focus on energy security, particularly for developing regions like Africa [4]