Noble adds Rhea to well line-up offshore the Falklands

Offshore staff

STANLEY, Falkland Islands – Noble Energy and Edison International will drill an exploration well later this year on the potential 443-MMbbl Rhea prospect in the offshore North Falkland basin.

The duo has completed a farm-in to license PL001, previously operated by Argos Resources, which covers an area of 1,126 sq km (435 sq mi).

Noble and Edison will respectively earn a 75% and 25% interest in the license at no cost to Argos, with the latter retaining an overriding royalty interest of 5% of gross production from any hydrocarbon discoveries developed within the license area.

This initial well fulfils the remaining work obligation on the license’s second exploration term.

A 3D seismic survey over the license in 2011 led to identification of 52 prospects and 40 leads holding potentially 3.1-10.4 Bbbl combined.

A Competent Persons Report in 2013 highlighted Rhea and Rhea Stack as stand-out targets.



Share your news with Offshore at

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

The Multi-Tax Challenge of Managing Excise Tax and Sales Tax

To be able to accurately calculate multiple tax types, companies must be prepared to continually ...

Operational Analytics in the Power Industry

Cloud computing, smart grids, and other technologies are changing transmission and distribution. ...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...