Noble to acquire interest in BP E&P deepwater gulf acreage

Noble Energy Inc., Houston, has reached an agreement with BP Exploration & Production Inc. to acquire 50% of BP E&P’s interest in 17 deepwater exploration leases in the Atwater Valley protraction area of the Gulf of Mexico.

Noble will acquire a 50% working interest in 13 leases and an average 26% working interest in 4 leases.

As part of the transaction, Noble will participate in—with 50% interest—the Bright prospect, which is currently drilling on Atwater Valley Block 362 in 5,600 ft of water. The initial well, targeting multiple Upper and Middle Miocene reservoirs, is expected to be drilled to 13,500 ft TD.

The company’s total estimated gross unrisked resource range for the Bright prospect is 90-350 million boe. Noble says there are multiple follow-on exploration opportunities that have been identified on the newly acquired leases in addition to the Bright prospect.

BP E&P said it expects Katmai prospect results in the second quarter and anticipates the Bright prospect will be at total depth by the end of the third quarter. The company also is drilling a second well at Dantzler, where an oil discovery was made in December (OGJ Online, Dec. 4, 2013).

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