OGX Finds Oil in One of Its Two Thickest Reservoirs
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OGX Petroleo & Gas Participacoes SA, the oil company owned by Brazilian billionaire Eike Batista, said it discovered one of the two thickest layers of oil yet in its fields off Rio de Janeiro’s coast.
The company drilled through an oil reservoir 116 meters (380.6 feet) thick at the 1-OGX-25 well in the Campos Basin, according to a regulatory filing today. Its only other find known to have more than 100 meters of so-called net pay is at the Pipeline field discovered last year, OGX said in an e-mailed statement in response to questions today.