Caracal mulls Chad fast-track plan

Oil workers and a drilling rig09 December 2013, News Wires – Canadian junior Caracal Energy may opt for a fast-track field development in Chad after recently making a fresh oil discovery.

The Calgary-based player and its partners in the Krim field may look to tie the discovery at the Krim-1 wildcat back to the nearby Mangara field where the pipeline is no more than 10 kilometres away.

Caracal said the discovery at Krim-1 was declared on 4 November, the Cretaceous E sands testing at 2580 barrels per day of oil.

The exploring partners are also testing the Cretaceous C and D sands in a bid to add more reserves.

Chad-focused Caracal is moving ahead with plans to increase its rig count from two to six units by the end of next year, also bringing in a pair of completion rigs.

Its 2014 exploration plan will target 1 billion barrels of gross unrisked prospective resources.

– Upstream

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