The company said an appraisal well drilled in the field located in Delta State hit hydrocarbons.
The Nigerian independent said initial drilling results from the EB-4 well encountered eight new hydrocarbon-bearing sands between 9667 feet and 11,182 feet. Each had a thicknesses of between 21 feet and 110 feet, the company said.
The well, spud in March, reached a total measured depth of 12,120 feet in June. It was the fourth well drilled in the Ebendo marginal field, or OML-56, previously known as Obodeti/Obodugwa.
EB-4 was intended to appraise the updip portion of the structure.
The partners perforated and tested the deepest sands in the well at 950 barrels per day of 49-degree API oil with a 24/64-inch choke.
They will conduct further tests over the next few days on the next sand, the primary target for the well.
“The company intends to complete the EB-4 well as a dual-string producer prior to commencing drilling on the EB-5 well, which is intended to appraise the shallow hydrocarbon bearing sands encountered in EB-4,” Oando said in a statement.
The company’s chief executive officer, Olapade Durotoye said the next steps will include further evaluation and delineation of the discoveries “to assess their size and productive capacity”. He said he expects to begin this process in the fourth quarter of this year.
Oando has a 42.7% non-operated interest in the Ebendo marginal field. Energia operates the field with a 55% stake.