Noble Energy Makes Troubadour Discovery in Gulf of Mexico

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Houston-based Noble Energy, Inc. has made a discovery at the Troubadour exploration prospect in the Gulf of Mexico, the company announced Wednesday.

The discovery is expected to add significantly to Noble Energy’s Gulf of Mexico business, said Susan Cunningham, Noble Energy’s senior vice president of Gulf of Mexico, West Africa and Frontier Ventures.

“The discovery at Troubadour follows on our early exploration success at Big Bend, which combine to provide another significant development opportunity for our Gulf of Mexico business. Results from the well have provided critical new information that indicates a greater than previously predicted oil recovery in the Rio Grande complex. Discovered gross resources in this area are now estimated at between 50 and 100 million barrels of oil equivalent, with 75 percent representing oil volumes,” Cunningham said.

The net natural gas pay is about 50 feet, according to reservoir and fluid measurement logs, and is contained in a high-quality Miocene reservoir, Noble Energy said. The well was drilled to a total depth of 19,510 feet. Noble Energy plans future development for the Troubadour discovery well, which is being temporarily abandoned. When operations at the well are completed, Noble Energy plans on moving the drilling rig to its Dantzler prospect on Mississippi Canyon 738/782. Noble Energy has a 65 percent participating interest in Dantzler, and is targeting a resource range of 50 to 220 million barrels of oil equivalent gross.

Analysts at Tudor Pickering Holt Energy gave a resource estimate of 50-100 million barrels of oil equivalent, containing 75 percent oil. Plans for development are underway, the analysts noted, and the initial project sanction is targeted by the end of the year, with the first production expected near the end of 2015.

The well is located in Noble Energy’s Big Bend/Troubadour "Rio Grande" area, and is located at a water depth of 7,273 feet on Mississippi Canyon Block 699.

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