Noble reports new GOM, Mediterranean discoveries

Noble Energy Inc.

Noble Energy Inc. (NYSE: NBL) has reported discoveries at the Dantzler exploration well in the Deepwater Gulf of Mexico (GOM) and at the Tamar Southwest (SW) exploration well offshore Israel. 

At Dantzler, wireline logging data indicates the well encountered over 120 net feet of primarily crude oil pay in two high-quality Miocene reservoirs. The discovery well, located in Mississippi Canyon 782, was drilled to a total depth of 19,234 feet in 6,580 feet of water. Dantzler is located 12 miles west of Noble’s Rio Grande development area, which includes discoveries at Big Bend and Troubadour. Discovered gross resources at Dantzler are now estimated at between 55 MMboe and 95 MMboe. 

The Tamar SW well, testing a new exploration prospect, encountered 355 feet of net natural gas pay within the targeted Miocene intervals. Tamar SW, which was drilled to a total depth of 17,420 feet in 5,405 feet of water, is the company's eighth consecutive discovery in the Levant Basin. The field is located 8 miles southwest of the Tamar field. Evaluation of drilling data and wireline logs has confirmed the range of gross resources of the field to be between 640 billion cubic feet (Bcf) of natural gas and 770 Bcf. The well encountered high-quality reservoir sands, with per well productivity anticipated to be 250 million cubic feet of natural gas per day. 

Noble operates Dantzler with a 45% participating interest. Additional interest owners are entities managed by Ridgewood Energy Corp. (including Riverstone Holdings LLC and its portfolio company ILX Holdings II LLC) with 35% and W&T Energy VI LLC (a wholly owned subsidiary of W&T Offshore Inc.) with 20%. 

Following completion of operations at Tamar SW, the drilling rig will be released to another operator. Noble Energy operates Tamar SW with a 36% working interest. Other interest owners are Isramco Negev 2 with 28.75%, Delek Drilling with 15.625%, Avner Oil Exploration with 15.625%, and Dor Gas Exploration with 4%.

 

 

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