Holstein Deep, Dorado drilling positive for Freeport-McMoRan

Offshore staff

PHOENIX, ArizonaFreeport-McMoRan Oil & Gas has positive drilling results from its 100%-owned Holstein Deep and Dorado development wells in deepwater Gulf of Mexico. Production from these projects is expected to total 30,000 boe/d in 2016.

During 4Q 2014, the Holstein Deep delineation well in the Green Canyon area reached a TD of 31,100 ft (9,479 m). Recent wireline logs and core data combined with previous  results confirm that the well encountered a total of 234 net ft (71 net m) of Miocene oil pay with excellent reservoir characteristics and good correlation to the discovery well and previous confirmation side track drilling.

Production from the planned three-well development is expected to reach 15,000 boe/d in 2016 and will tieback to the existing Holstein production facility. Based on the results from the delineation well, FM O&G has increased the net unrisked resource potential of the Holstein Deep field to more than 250 MMboe from the previous estimate of 140 MMboe. The data also supports the potential for additional development opportunities at Holstein Deep with up to 75,000 boe/d production by 2020.

The Holstein Deep development is in Green Canyon block 643, west of the Holstein platform in 3,890 ft (1,186 m) of water. FM O&G acquired the acreage a 2013 lease sale held by the Bureau of Ocean Energy Management.

FM O&G has identified multiple additional development opportunities in the Green Canyon area that could be tied back to the Holstein facility.

The company also reported positive drilling results at the 100%-owned Dorado development, which began drilling in October. In December, the well reached a TD of 14,600 ft (4,450 m) and encountered 245 net ft (75 net m) of Miocene pay with excellent reservoir characteristics and good correlation to offset productive wells. This is the first of three wells planned for subsea tieback to the Marlin facility targeting undrained fault blocks and updip resource potential south of the Marlin facility.

Production from the planned three-well Dorado development is expected to reach 15,000 boe/d in 2016 and will tieback to the existing Marlin production facility. The Dorado development is located on Viosca Knoll block 915 in 3,860 ft (1,177 m) of water. FM O&G has a 100% working interest in Marlin.

12/05/2014

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