Eni's Longhorn Prospect in GOM Nearing First Production

In its second quarter results, Nexen noted that Longhorn prospect is expected to commence production shortly. The company expects peak production of approximately 200 mmcf/d or 33,000 boe/d gross (50 mmcf/d or 8,000 boe/d, net to Nexen). A fourth development well for the project, Leo, exceeded expectations and has extended the company's reserve base. Nexen has a 25% non-operated working interest and Eni is the operator.

The Greater Longhorn Area lies in the region of central Mississippi Canyon (MC), approximately 60 miles offshore Louisiana and also includes both the Eni-operated Corral Platform, previously known as Crystal Platform, and the Longhorn field currently under development.

Eni estimates that the potential of the Greater Longhorn Area in terms of reserves and exploration resources is approximately 100 million boe.



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