RE:Sapakara South Well Block 58 NEW DiscoveryVery interesting release.
Couple observations since two appraisal well results were within the release.
1) In the original Sapakara West-1, they encountered 79m of net pay in two intervals.
- Campanian: 13m of gas condensate and 30m of oil.
- Santonian: 36m of oil.
https://www.globenewswire.com/news-release/2020/04/02/2010828/0/en/Apache-Corporation-Announces-Significant-Oil-Discovery-Offshore-Suriname-at-Sapakara-West-1.html
In this Sapakara South-1 well (4km SE), they encountered 30m of net pay (oil) in one interval (Campanian) only.
* So with that, there is roughly 13m less hydrocarbons in this Campanian interval in the Sapakara vicintiy. Additionally, they did not report oil in the Santonian interval (the primary target for CGX Kawa-1). Is this because Apache/Total did not drill this deep? Or was it because the well was not designed properly and they had to stop drilling before the Santonian? Or did they actually drill this deep and no oil was discovered? Guess we won't know the real answer for a long time. Very interesting though nothing was released on the Santonian, especially given its such a thick pay interval in the original well.
2) In the original Kwaskwasi-1 well, they encountered 278m of net pay in two intervals.
- Campanian: 63m of net oil and 86m of volatile oil/gas condensate
- Santonian: 129m of net oil
https://www.globenewswire.com/en/news-release/2020/09/14/2092975/0/en/Apache-Corporation-Provides-Update-on-Kwaskwasi-1-Discovery-Well-in-Block-58-Offshore-Suriname-Operations-Commenced-at-Next-Exploration-Location-Keskesi.html
In their appraisal well next to Kwaskwasi-1, they only encountered "two-thin intervals of black oil" within this Campanian interval.
* So with that, its pretty remarkable that they could do from 63m oil and 86m gas condensate in the original Kwaskwasi-1 well to only encountering "two thin-intervals" in the adjacent appraisal well. Was this because they were testing the stratigraphic edge in the Campanian and hence expecting thinner pay? Was it due to poorer reservpoir properties resulting in less net pay? Again, nothing reported for the older Santonian interval... Same questions as above... One could also argue that maybe oil is discovered but they know CGX/Frontera are looking for quick answers and they won't release this valuable information, especially if JV discussions are ongoing.
More interesting notes:
"Importantly, our data indicated that the Sapakara West-1 well encountered a distinct fan system that is seperate from the Maka-1 Central discovery" (April 2, 2020 news release)
- To me, this shows how complex stratigraphic plays really are. Additionally, helps explain how you can go have such large differences in net pay within the Campanian over such short distances.
"The Campano-Masstrichtian intervals at Kwaskwasi and the Sapakara South-1 discovery are seperate and unrelated" (July 29, 2021 news release)
- Again, we are dealing with a very complex stratigraphic play here and Apache/Total are showing that very clearly within the Campanian. God only knows what is occuring within the underlying Santonian given limited news releases from Apache/Total.
End of day, Apache/Total are showing that very large differences in net pay (and thus field economics) are present over very short distances due to the stratigraphic complexities assocaited with fan compexes. Same thing with fluid. Kawa-1 in relation is up-dip to these wells and has one-primary target within the Santonian with upside targets in the Campanian. Anyone thinking this Kawa-1 well will be a slam dunk just because Apache has some great initial results should think again. These two additional appraisal wells released today show that very quick changes in net pay can occur. One can only hope thick (>30m net pay) still exist as we continue up-dip within the basin, especially in this deeper Santonian interval.