By: Energy capital & power

Rhino Resources has made a significant light oil discovery at the Capricornus 1-X well in Block 2914A, located in PEL85 in the Orange Basin, offshore Namibia. This marks the company’s first offshore exploration success.

Drilled by the Noble Venturer drillship, the well was spudded on February 17 and reached a total depth of 4,957 meters, successfully penetrating the Lower Cretaceous target. The well encountered 38 meters of net pay, producing a flow rate of 11,000 barrels per day of 37° API oil. Additionally, the well demonstrated favorable petrophysical properties and encountered limited associated gas with less than 2% CO2 and no hydrogen sulfide.

Fluid samples will be sent for laboratory analysis to inform future exploration plans for the block. Block 2914A is operated by Rhino Resources (42.5%), with partners Azule Energy (42.5%), Namibia’s state-owned NAMCOR (10%) and Korres Investments (5%).