ConocoPhillips Makes Deepwater Gulf of Mexico Discovery

ConocoPhillips has made a deepwawter discovery on Green Canyon Block 199, the Lorien Prospect, in the Gulf of Mexico, located approximately 150 miles south-southwest of New Orleans.

The Lorien well spud on February 16, 2003 and is located in 2,177 feet of water. The well drilled to a total measured depth of 18,703 feet (or a total vertical depth of 17,432 feet) and encountered more than 120 feet of apparent oil in a high-quality reservoir interval. The well was drilled by Transocean Inc.'s drill ship, Deepwater Pathfinder.

The well has been temporarily suspended pending further appraisal of the hydrocarbon zone that has been encountered.

ConocoPhillips is the operator with a 65% interest in the Lorien discovery. Noble Energy holds a 20% interest; Norsk Hydro E&P Americas AS, Inc. hold 10% and Davis Offshore, L. P. holds the remaining 5%.