Drilling has commenced on the Mesurado-1 deepwater well on Block LB-13, 50 miles offshore Liberia. Canadian Overseas Petroleum Ltd. (COPL) says the well, which will target Late Cretaceous, will be drilled in 2,500 m of water using the Seadrill West Saturn drillship. Block operator ExxonMobil Exploration & Production Liberia Ltd. holds an 83% working interest. COPL retains 17% interest through its subsidiary Canadian Overseas Petroleum (Bermuda) Ltd. This is the first well operated by ExxonMobil offshore Liberia, the company said.
Canadian Overseas acquired 100% interest in Block LB-13 in 2011 from Peppercoast Petroleum PLC for $85 million (OGJ Online, May 19, 2011). ExxonMobil Corp. acquired 70% interest in the COPL’s production-sharing contract governing the block in November 2011 for $55 million (OGJ Online, Nov. 16, 2011).