Canadian independent Record Resources has significantly upgraded the production outlook for its planned Loba Marine 2 appraisal well offshore Gabon, with fresh geological and geophysical analysis suggesting the well could flow at 5,000 barrels of oil per day (bpd) — setting the stage for a broader 20,000 bpd multi-well development campaign.
The projection draws on comparisons with nearby producing fields in the Batanga reservoir, including the Perenco-operated Barbier Southwest field, which recently came on stream. Record believes the wider Loba field complex — comprising the Loba discovery, Loba Deep, and Loba East — could ultimately support 20,000 bpd through a development programme anchored in reservoir analogues within 40 kilometres of the discovery site.
The Loba discovery itself was originally made by Elf Gabon via the LOM-1 well, which encountered a 140-metre gross oil column and 70 metres of net pay in the Batanga formation. The field produces light crude with an API gravity of 27 degrees. Record estimates mean contingent resources at the discovery at 11.9 million barrels, while Loba Deep and Loba East each hold an estimated 11 million barrels of prospective resources.
Record holds a 20 percent interest in the offshore Ngulu Block, covering approximately 1,214 square kilometres in shallow waters. The company recently received legacy 3D seismic datasets from Gabon’s hydrocarbons authority and has commenced reprocessing to refine drilling targets across more than 28 identified prospects on the block. The campaign reflects renewed industry confidence in mature offshore basins along West Africa’s Atlantic margin, where incremental technological application continues to reveal overlooked production potential.
Source: prospect-intel.com