Newfield Exploration Scores 2 Deepwater GOM Discoveries
Newfield Exploration announced two discoveries in the deepwater Gulf of Mexico -- Pyrenees and Winter. Since the beginning of 2008, Newfield has drilled seven successes out of eight exploration attempts in the deepwater Gulf and has seven deepwater developments underway, providing significant future production growth.
The Pyrenees discovery, located in approximately 2,100' of water in Garden Banks Block 293 and drilled by Diamond Offshore's Ocean Star semisub, encountered approximately 125' of net hydrocarbon pay in three separate intervals. The well was temporarily abandoned and the partners are working on field development plans. Delineation drilling is planned for the second half of 2009. Newfield operates the development with a 40% working interest.
Additional partners include: Stone Energy Corporation 15%, Ridgewood Energy Corporation 15%, Arena Exploration 15% and Deep Gulf Energy 15%.
The Winter discovery, located in approximately 3,400' of water in Garden Banks Block 605 and also drilled by the Ocean Star semisub, encountered approximately 44' of net hydrocarbon pay in two sands. The well was temporarily abandoned and various development options are under consideration.
Newfield is operator and has a 30% working interest in Winter. Additional partners include: Apache Corporation 25%, Deep Gulf Energy 25% and Royal Offshore 20%.
Over the last several years, Newfield has assembled a substantial inventory of exploration prospects in the deepwater Gulf of Mexico. The Company owns interests in 88 deepwater blocks (approximately 500,000 gross acres). Newfield plans to drill 3-5 deepwater Gulf of Mexico wells each year over the next several years.
- Brand Finance Ranks Most Valuable, Strongest Oil and Gas Brands
- Canacol Makes New Gas Discovery in Colombia's Magdalena Basin
- Egypt Plans to Meet Summer Fuel Needs with LNG Imports
- FortisBC Denies Gas Greenwashing as Suit Awaits
- Credit Agricole Helps NGP Secure Funds for Fishery-Solar Projects in Taiwan
- Oil and Gas Executives Predict WTI Oil Price
- Industry Protests Proposed Methane Fee Guidelines for O&G Facilities in US
- Exxon, Cnooc Merge Guyana Arbitration Claims Against Chevron
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Oil Demand Outpaces Expectations, Testing Calculus on Peak Crude
- House Passes Protecting American Energy Production Act
- TotalEnergies Restarts Production in Denmark's Biggest Gas Field
- Republican Lawmakers Say IEA Has Abandoned Energy Security Mission
- USA Oil and Gas Job Figures Jump
- Blockchain Demands Attention in Oil and Gas
- Macquarie Sees USA Oil Production Exiting 2024 at 14MM Barrels Per Day
- Houthis Warn Saudi Arabia of Retaliation If It Backs USA Attacks
- Summer Pump Prices Set to Hit $4 a Gallon Just as Americans Hit the Road
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Chinese Mega Company Makes Major Oilfield Discovery
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Another Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Vessel Sinks in Red Sea After Missile Strike
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Equinor Makes Discovery in North Sea
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension