Predator Oil & Gas Holdings plc reported a 19% increase in production, along with further potential, following drilling and well workovers in the Bonasse and Goudron fields, onshore Trinidad.
SNOWCAP
Operator NABI Energy Holdings Ltd completed a heavy well work on the GY-211 well in Goudron, and initially flowed 221 barrels of oil per day.
Results showed the potential to increase “significantly” Goudron production, with the scheduled heavy workover programme, on selected abandoned producing reservoirs, said Predator.
The transformer, installed at the Goudron field, also removed the need for diesel to generate electricity and improved lifting efficiency.
The completed BON-17 development well in Bonasse established a new producing horizon, with a lower water cut of 20%, at a depth of 120 feet.
Predator said that, as at 4 January, daily oil production rose to 367 bopd, compared with 308 bopd at the end of November 2025, leaving the company ahead of its Februray 2026 production target.
Within the next month, preparations will begin to drill a new high impact development well and start two heavy workovers in the Goudron field.
Meanwhile, the Snowcap-3 (SC-3) appraisal/development well on the Cory Moruga licence continues to progress through the permitting process, with a planned submission of a drilling, testing and geological programme for approval.
The company has no costs for current and future field operations, employees, drilling and heavy well workovers.
Predator receives 30% of gross sales revenues from existing production, minus taxes and royalties, and 15% of new production until NABI recovers its costs, after which Predator receives 30% of net sales revenues.
Chief executive officer Paul Griffiths added: “We are excited about the potential production capabilities of the new well scheduled for Goudron given the unexpected higher level of production from the GY-211 well workover.
“Trinidad is part of a world class oil and gas province that has recently assumed greater geopolitical strategic significance.
“The potential future re-entry of the oil majors to Venezuela could facilitate a return of larger service companies to Trinidad, thereby increasing competitiveness and access to in-country materials and services to lower drilling costs.
“Our decision to expand our footprint onshore Trinidad in 2025 has been fully justified and we look to further develop our strategic business opportunities in 2026.”
Focus on the region follows the United States’ capture earlier this month of Venezuela’s president, Nicola Maduro.
Predator’s other assets are its 75% interest in the Guercif licence, onshore Morocco, and a 50% interest in Corrib South, which lies 18 km from the Corrib gas field, offshore Ireland.