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Noble Energy, Inc.
today
announced that the second appraisal well at Gunflint successfully encountered
109 feet of net pay within the primary reservoir targets. Results of
drilling, wireline logs and reservoir data have confirmed an estimated gross
resource range(1) of 65 to 90 million barrels of oil equivalent in the primary
structure, which was in line with Company expectations. The Mississippi
Canyon 992 #1 well, located one mile west of the original discovery well, was
drilled to a total depth of approximately 32,800 feet in a water depth of
6,100 feet. Commercial hydrocarbons were not encountered in the deeper
exploration objective. Additional exploration potential remains in an
adjacent three-way structure to the north, a candidate for future exploration
following development of the confirmed resources.
Once operations are completed, the well will be suspended for future use. The
net cost of drilling the lower exploration zone was approximately $15 million,
which will be expensed in the second quarter of 2013.
Susan Cunningham, Noble Energy's Senior Vice President Deepwater Gulf of
Mexico, West Africa and Frontier Regions, commented, "Our appraisal program at
Gunflint solidifies our plans for a subsea tieback development, with sanction
planned for later this year. Along with our Big Bend discovery, we now have
two major projects in the deepwater Gulf of Mexico targeting first production
at the end of 2015. These developments represent significant value to our
overall portfolio."
Noble Energy plans to move the drilling rig to Troubadour, a low-risk
amplitude prospect offsetting the Big Bend discovery, over the next several
weeks. The well is expected to reach total depth late in the third quarter.
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