Big Bend TD 30 days early, strikes 150 ft. of Oil pay
8:12 AM Noble Energy (NBL) says it struck ~150 ft. of net oil pay with "excellent reservoir properties and fluid characteristics" at its Big Bend exploration probe in the deepwater Gulf of Mexico. NBL has a 54% working interest in the project; W&T Offshore (WTI) has 20%.
HOUSTON, Nov. 27, 2012 /PRNewswire/ -- Noble Energy, Inc. (NBL) today announced a discovery at the Big Bend exploration prospect in the deepwater Gulf of Mexico. The well, located in 7,200 feet of water on Mississippi Canyon Block 698, was drilled to a total depth of 15,989 feet. Open-hole logging identified approximately 150 feet of net oil pay in two high-quality Miocene reservoirs.
Charles D. Davidson, Noble Energy's Chairman and CEO, said, "The discovery at Big Bend is an exciting follow-up to our recent success at Galapagos. The well results appear at least as good as our pre-drill mean resource expectations and de-risked our offset prospect Troubadour. The combination of excellent reservoir properties, fluid characteristics and our high working interest in this project will contribute significant production and cash flow for our business."
Noble Energy operates with a 54 percent working interest in Big Bend. Other interest owners are W&T Energy VI, LLC (a wholly owned subsidiary of W&T Offshore Inc.) with 20 percent, Red Willow Offshore, LLC with 15.4 percent and Houston Energy Deepwater Ventures V, LLC with 10.6 percent.