Gulf of Mexico well brings disappointment to Noble Energy

Production platform for oil and gas
Source: DollarPhotoClub

Noble Energy, Inc. (NYSE: NBL) announced on Friday that the Bright exploration well in the deepwater Gulf of Mexico reached the targeted Upper and Middle Miocene objectives and did not encounter hydrocarbons. Drilled to a total depth of 13,500 feet on Atwater Valley 362, the well has been plugged and abandoned. Full well assessment and the integration of drilling results into the Company’s geologic models is ongoing to determine forward exploration plans on the recently acquired Atwater Valley acreage.

Susan Cunningham, Senior Vice President, Gulf of Mexico, West Africa, and Frontier, said, “While we are disappointed with the results of the Bright well, we remain extremely encouraged by the recent success of our exploration program in the Gulf. We look forward to results at our Katmai and Dantzler exploration wells later this month.”

BP Exploration & Production Inc. operated the well with 50 percent working interest and Noble Energy had the remaining 50 percent. The Company expects third quarter 2014 exploration expense to remain within guidance of $150 to $250 million.

Noble Energy 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.

Article continues below this message

Have your opinion heard with Shale Gas International

We accept interesting, well-written opinion and analysis articles of up to 1,500 words, that offer unique insights into the shale industry. The articles cannot be overtly promotional in nature and need to fit into at least one of our content categories.

If accepted, the article must be exclusive to Shale Gas International website and cannot appear on any other websites, publications, etc. Each article may contain up to three links to external websites relevant to the content discussed in the piece.

If you would like to contribute to Shale Gas International website, please contact us at: editor[at]mw-ep.com