BP Strikes Oil Offshore Louisiana
BP (NYSE: BP) on Tuesday reported an oil discovery at the Puma West prospect in the deepwater U.S. Gulf of Mexico (GOM).
Drilled by BP on behalf of co-owners Chevron U.S.A. Inc. (NYSE: CVX) and Talos Energy (NYSE: TALO), Puma West – on Green Canyon Block 821 – lies approximately 131 miles (211 kilometers) off the Louisiana coast, BP noted in a written statement. The company added the discovery, located west of the BP-operated Mad Dog field, was drilled to a total depth of 23,530 feet (7,172 meters) in 4,108 feet (1,252 meters) of water.
Operator BP holds a 50-percent working interest in Puma West. Chevron and Talos each hold a 25-percent stake.
“Our resilient and focused hydrocarbons business is core to BP’s strategy, and in the Gulf of Mexico we invest and explore in the reservoirs we know best,” remarked Starlee Sykes, BP’s senior vice president for the COM and Canada. “We are using our seismic expertise and drilling capability to safely find and develop advantaged oil and gas.”
BP stated the well encountered oil pay in a high-quality Miocene reservoir with fluid properties similar to nearby productive Miocene reservoirs. The company added that preliminary data support the potential for a commercial volume of hydrocarbons.
“We look forward to evaluating the potential of this discovery and its competitiveness across BP’s global portfolio,” continued Sykes. “I’m proud of our team for delivering this project – especially during a global pandemic.”
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