BGM plugged and abandoned dry the 3-SDR-002-ES (3-BGM-002-ES) outpost in the ES-T-476 block in the onshore Espirito Santo Basin during late-August 2019.     The operator filed no show      reports for the well through October 2019.      The outpost was spudded on 21 July 2019.        The well had a proposed total depth (PTD) of 1,700 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 280 m south-east of the 1-SDR-001-ES (1-BGM-001-ES) wildcat suspended by the operator prior to spudding this outpost.        BGM Petroleo e Gas Ltda holds 100% working interest in the ANP Round 14, ES-T-476 contract.      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 mid-July 2019. The operator filed an oil show report with the ANP for the well on 17 June 2019 and a second oil show report on 7 July 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.    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.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.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.The blocks cover a total area of 46.14 sq km. The contract has one five-year exploration period and 7.5% royalties.The rentals for the blocks are USD 14.15/sq km/year.The local content is stipulated as 50% in the five-year exploration phase and in the development production phase is 50%.
BGM plugged and abandoned dry the 3-SDR-002-ES (3-BGM-002-ES) outpost in the ES-T-476 block in the onshore Espirito Santo Basin