Noble Hits Paydirt at Santa Cruz in Deepwater Gulf of Mexico

Mississippi Canyon
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Noble Energy has announced a discovery at the Santa Cruz prospect in Mississippi Canyon Blocks 519/563. The well, located in 6,515 feet of water, was drilled to a total depth of approximately 18,900 feet. Open-hole logging indicated over 140 feet of net gas condensate pay and more than 110 feet of net oil pay in multiple high-quality reservoirs. The overall thickness of the reservoirs encountered was greater than originally expected.

David Stover, Noble Energy's Executive Vice President and Chief Operating Officer, said, "The results at Santa Cruz complement the successful momentum we have been experiencing in our worldwide exploration programs. Our discoveries at Santa Cruz and Isabela will be an important development program for our Company. Current plans consist of subsea tiebacks to nearby infrastructure, and we anticipate first production from this area in 2011.

"Our deepwater Gulf of Mexico program is positioned very well, with a combination of existing production, several ongoing developments of recent discoveries, and a growing exploration portfolio. Our next exploration test will likely be late in the year at Deep Blue in the Green Canyon region, which will be testing our largest deepwater Gulf of Mexico prospect to date," Stover added.

Noble Energy operates the Santa Cruz discovery with a 23.25 percent working interest. Other interest owners in the discovery are Houston Energy, L.P. with 10 percent, Red Willow Offshore, LLC with 20.25 percent, and BP Exploration & Production Inc., a wholly-owned subsidiary of BP America Inc. with the remaining 46.5 percent.


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