|Thursday, February 03, 2000
The discovery of oil and two successful appraisal wells at the Leadon prospect on blocks 9/14a and 9/14b in the U.K. North Sea has been reported by Kerr-McGee. Leadon is fifteen miles north of Kerr-McGee's operations at Gryphon field. The company estimates reserves to be in the range of 70 million to 100 million barrels of oil equivalent. This will allow the exploration of numerous options for development in this core area. Kerr-McGee operates blocks 9/14a and 9/14b, with 100% interest in the Leadon prospect. Block 9/14b was part of Kerr-McGee's 1998 acquisition of Gulf Canada's U.K. North Sea assets. The 5,462-foot discovery well encountered 145 feet of net pay. The first appraisal well, located about 1,400 feet north of the discovery well, encountered 130 feet of net pay. Located 1,900 feet southwest of the discovery well, the second appraisal well encountered 150 feet of net pay. Transocean Sedco Forex's semisub, Sedco 704, has participated in these discoveries.