"The Klegg well marks Marathon's third Norwegian discovery out of four wells drilled during 2003," said Philip Behrman, Marathon senior vice president of Worldwide Exploration. "This discovery further supports Marathon's plans to establish and grow production in this new core area."
The Klegg well was drilled into the Heimdal Formation, located approximately 7 miles north of the Heimdal platform, to a total depth of 7,440 feet. The well encountered a gross oil column of approximately 213 feet containing good quality oil. Extensive down-hole samples, core and wireline logs were collected and are currently being analyzed. An evaluation of development options is planned in the near term.
Marathon holds a 46.9 percent working interest in Klegg. Norsk Hydro holds a 28.5 percent interest and serves as operator. The remaining interests are held by TOTAL E&P Norge AS (24.2 percent) and Ugland (0.3 percent).
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