Loading...
Loading...
Cobalt International Energy, Inc. (“Cobalt”)
CIE today announced
extraordinary results from its Shenandoah #2R appraisal well, located in
Walker Ridge Block 51, and provided an update on its North Platte #1
exploratory well, located in Garden Banks 959, both located in the Inboard
Lower Tertiary Trend, deepwater Gulf of Mexico.
At Shenandoah, the well's operator announced today that the Shenandoah #2R
appraisal well encountered more than 1,000 net feet of oil pay in multiple
high quality Lower Tertiary-aged reservoirs. Log and pressure data from both
the Shenandoah appraisal well and the 2009 Shenandoah discovery well indicate
the presence of exceptionally high quality reservoirs and hydrocarbons.
The appraisal well was drilled as a straight hole to a total depth of 31,405
feet in approximately 5,800 feet of water, about 1.3 miles southwest and
approximately 1,700 feet structurally down-dip from the Shenandoah #1
discovery well, in order to test the down-dip extent of the Shenandoah field.
Well results indicate that the targeted sands were full to base with no
evidence of oil-water contacts. The Shenandoah #1 discovery well was drilled
in early 2009 on Walker Ridge Block 52 and encountered more than 300 net feet
of Inboard Lower Tertiary oil pay.
Cobalt, as operator, provided an update confirming that the North Platte #1
exploratory well encountered over 550 net feet of oil pay in multiple high
quality Inboard Lower Tertiary reservoirs. This compares to DeGolyer and
MacNaughton's pre-drill estimate for net pay of 350 feet. North Platte is
located in approximately 4,400 feet of water and was drilled to a total depth
of approximately 34,500 feet. Cobalt completed a bypass coring operation on
North Platte #1 and has since temporarily abandoned the discovery well. In
addition, Cobalt has begun the acquisition of a new state-of-the-art 3D
seismic survey over the greater North Platte field and the majority of its
prospects in the immediate area. Evaluation of this data will be ongoing
throughout 2013. Appraisal plans for North Platte will be determined later in
the year, as well.
Cobalt is currently drilling its Ardennes #1 exploratory well in Green Canyon
896. Ardennes is targeting both Miocene and Inboard Lower Tertiary reservoirs.
Results are expected sometime mid-year 2013. DeGolyer and MacNaughton
estimates Ardennes to have potential resources greater than 500 million
barrels gross oil equivalent.
Cobalt is the operator and holds a 60 percent working interest in North
Platte. TOTAL E&P USA, INC.
TOT is Cobalt's partner in North Platte
with a 40 percent working interest. Cobalt is the operator and holds a 42
percent working interest in Ardennes. Partners in Ardennes include
ConocoPhillips
(30 percent working interest) and TOTAL E&P USA,
INC (28 percent working interest). In Shenandoah, Cobalt holds a
20 percent working interest. Partners in Shenandoah include Anadarko Petroleum
Corporation
APC, as operator (30 percent working interest),
ConocoPhillips (30 percent working interest), Venari Resources LLC
(10 percent working interest) and Marathon Oil Company
MRO (10 percent
working interest).
Loading...
Loading...
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted In: News
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in