BGM suspended with oil shows the 1-SDR-001-ES (1-BGM-001-ES) new-field wildcat (NFW) in the ES-T-476 block in the onshore Espirito Santo Basin during late-June 2019.Â  The operator filed an oil show report with the ANP for the well on 17 June 2019.    The NFW was spudded on 21 May 2019.       The      NFW had a proposed total depth (PTD) of 1,605 m with the Early Cretaceous      Sao Mateus and Mariricu Formations as the primary target.    The      well is located in the south-central area of the block approximately 1.2      km south-west of the 1-LB-0001-ES wildcat plugged by Petrobras in 1973.    BGM      Petroleo e Gas Ltda holds 100% working interest in the ANP Round 14,      ES-T-476 contract.     On 6 December 2018, the ANP approved of Bertek divesting its 100% working interest in the ES-T-345 and ES-T-476 blocks in the onshore Espirito Santo Basin to newcomer BGM Petroleo e Gas Ltda.Â  On 29 January 2018, Bertek with 100% working interest was granted official awards by the ANP for the ES-T-345 and ES-T-476 blocks in the onshore Espirito Santo Basin from the ANP Round 14.Â  The company paid a total signature bonus of USD 153,312.30 for the two blocks and has work commitments of USD 551,735.02.Â  The blocks cover a total area of 46.14 sq km. The contract has one five-year exploration period and 7.5% royalties.Â  The rentals for the blocks are USD 14.15/sq km/year.Â  The local content is stipulated as 50% in the five-year exploration phase and in the development production phase is 50%.
1-SDR-001-ES (1-BGM-001-ES) nfw S-C part of ES-T-476, onshore Basin, oil shows report to ANP, suspended late June. PTD was 1,605m, target SÃ£o Mateus and Mariricu fmâs.