Rhino Resources Completes First Well in Namibian Offshore Campaign

A 2014-built drillship, owned by Noble Corporation, has completed drilling the first exploration well in Rhino Resources’ multi-well campaign in the Orange Basin off the coast of Namibia. The drillship has now moved on to the next prospect on its drilling list.

Exploration Progress

Rhino Resources’ drilling campaign on Block 2914 in Namibia’s Orange Basin is currently underway. The Sagittarius 1-X well, spud on December 18, 2024, using the Noble Venturer drillship, reached total depth on February 6, 2025. The well penetrated Upper Cretaceous targets and encountered a hydrocarbon reservoir without water contact.

Intensive wireline logging operations allowed for the collection of hydrocarbon samples and sidewall cores for further analysis. With drilling operations concluded on the first well, the rig has now moved to drill the second well in the program, Capricornus, to test a different fairway.

CEO’s Comments

Travis Smithard, Rhino’s CEO, expressed satisfaction with the initial well results, stating, “We are pleased to have safely and successfully completed the drilling of the first exploration well. The hydrocarbon-bearing reservoir encountered is evidence of effective charge, though further assessment will be required.”

Looking ahead, Smithard added, “Our attention now turns to the Capricornus prospect, a NE-SW trending channel system. The Capricornus-1X well is due to be spud within the next 24 hours.”

Drillship Details

The 2014-built Noble Venturer drillship, constructed at Samsung Heavy Industries in Korea, operates in water depths of 12,000 feet and can drill up to 40,000 feet. It has accommodation for 230 people.

After completing the campaign for Rhino Resources, the Noble Venturer will commence operations with Tullow Ghana in May 2025.

Industry Developments

Other companies, such as TotalEnergies, are actively exploring for hydrocarbons offshore Namibia. TotalEnergies recently made the Venus oil discovery in the Orange Basin.

Despite the discovery, TotalEnergies has postponed the final investment decision for the Venus development until 2026. Further appraisal activities in Namibia’s Block 2913B are planned for 2025 to confirm reserve estimates and aid in development planning.