Rabat - Predator Oil & Gas has announced a net petroleum revenue of £1.52 million ($2.06 million) for the first half of 2026, as the company gears up for drilling operations at its MOU-6 well in Morocco. The Jersey-based oil and gas firm reported that it successfully sold 52,130 barrels of oil from its producing fields in Trinidad between January and June, although this revenue is calculated before the deduction of operating costs.
In a significant development towards the commencement of drilling at the MOU-6 site, Predator has completed civil engineering work for the well pad in Morocco. The company further revealed that the necessary explosives for the perforating guns, which are essential for well testing, have arrived at a Moroccan port. This equipment is deemed crucial as it plays a pivotal role in determining the timeline for relocating the drilling rig to the site.
Anticipated Drilling Timeline and Commercial Prospects
According to Predator's CEO, Paul Griffiths, the company is optimistic about announcing a start date for the MOU-6 drilling operations within the next two weeks, aligning with their current schedule. Griffiths stated, “Successful well testing with flow of hydrocarbons is the catalyst for finalizing commercial deals and financing arrangements for development based on potentially attractive revenue forecasts. Speculating with regard to such arrangements at this time is misguided.” This statement underscores the company's strategic approach to ensuring that any agreements are based on confirmed results from well testing.
The MOU-6 well is integral to Predator’s ongoing exploration in Morocco, where the firm is keen on developing onshore gas resources. A successful test that demonstrates hydrocarbon flow could significantly accelerate the company's movement towards securing commercial agreements and funding for future ventures. In addition to its Moroccan endeavors, Predator has also reported advancements in Trinidad, noting that preparations for the Snowcap-3 well are on track. Recent operations at the GY 664 well in the Goudron field have yielded a consistent output of between 30 and 32 barrels of oil per day throughout August.
Moreover, Predator's assets in Morocco are viewed as offering a relatively swift pathway to commercial gas production, potentially through projects involving compressed natural gas or micro-liquefied natural gas. The company has previously identified the geological structures targeted by its MOU-1 and MOU-3 wells as having significant hydrocarbon potential, and it remains focused on further appraisal and development opportunities in this region.
As reported by moroccoworldnews.com.
