Noble Energy Announces Trema Exploration Results Offshore Cameroon
Noble Energy (NYSE: NBL) today announced that the Trema exploration well in the Tilapia license offshore Cameroon reached its target objective and encountered reservoir-quality sandstones that were water-bearing. The well is currently being plugged and abandoned.
The Company's total cost of the Trema well is estimated at $35 million of which $20 million will be expensed in the third quarter of 2012 and the remainder in the fourth quarter. Noble Energy operated the well with a 50 percent participation interest in the license.
Noble Energy is a leading independent energy company engaged in worldwide oil and gas exploration and production. The Company has core operations onshore in the U.S., primarily in the DJ Basin and Marcellus Shale, in the deepwater Gulf of Mexico, offshore Eastern Mediterranean, and offshore West Africa. Noble Energy is listed on the New York Stock Exchange and is traded under the ticker symbol NBL. Further information is available at www.nobleenergyinc.com.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.