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Noble Energy Reports Discovery At Troubadour In Gulf of Mexico


Noble Energy, Inc. (NYSE: NBL) announced today a discovery at the Troubadour exploration prospect in the Deepwater Gulf of Mexico.  The well, located in Noble Energy's Big Bend/Troubadour "Rio Grande" area, is located in 7,273 feet of water on Mississippi Canyon Block 699 and was drilled to a total depth of 19,510 feet.  Reservoir and fluid measurement logs identified approximately 50 feet of net natural gas pay in a high-quality Miocene reservoir. 

Susan Cunningham, Noble Energy's Senior Vice President, Gulf of Mexico, West Africa and Frontier Ventures, commented, "The discovery at Troubadour follows on our earlier exploration success at Big Bend, which combine to provide another significant development opportunity for our Gulf of Mexico business.  Results from the well have provided critical new information that indicates a greater than previously predicted oil recovery in the Rio Grande complex.  Discovered gross resources(1) in this area are now estimated at between 50 and 100 million barrels of oil equivalent, with 75 percent representing oil volumes.  We are moving forward our development planning as subsea tiebacks to an existing host facility.  Initial project sanction is targeted

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