Rhino Resources and its partners have made a significant oil discovery in Namibia’s offshore waters, using the Noble Venturer drillship operated by U.S. drilling giant Noble Corporation. The discovery occurs on Block 2914 within PEL85, where Rhino maintains a 42.5% operating interest alongside partners Azule Energy (42.5%), NAMCOR (10%), and Korres Investments (5%).
Rhino CEO Travis Smithard expressed enthusiasm about the find: “Rhino, on behalf of the PEL85 JV, are delighted to announce the discovery of hydrocarbons at the Capricornus 1-X well. The results of the comprehensive wireline and drill stem testing programmes have proven the existence of a high-quality light-oil bearing reservoir, with no observed water contact.”
The Capricornus 1-X well, which began drilling in February 2025, reached a final depth of 4,957 meters below the seabed in early April. The operation revealed 38 meters of net pay with excellent reservoir properties. During production testing, the well achieved a remarkable flow rate exceeding 11,000 barrels per day of approximately 37° API light oil on a 40/64″ choke, featuring limited associated gas with less than 2% CO₂ content.
Following laboratory studies on collected fluid samples, the well will be temporarily plugged and abandoned while the Noble Venturer drillship prepares for its next assignment with Tullow Ghana in May 2025. The 2014-built vessel, constructed at Samsung Heavy Industries in Korea, can operate in water depths of 12,000 feet and drill to depths of 40,000 feet.
Source: offshore-energy.biz
