HOUSTON – Noble Energy Inc. (NYSE: NBL) has agreed with BP Exploration & Production Inc. to acquire 50% of BP's interest in 17 deepwater exploration leases in the Atwater Valley protraction area of the Gulf of Mexico.
As part of the transaction, Noble Energy is participating with a 50% working interest in the Bright prospect, which is currently drilling on Atwater Valley block 362 in a water depth of approximately 5,600 ft (1,707 m). The initial well, targets multiple Upper and Middle Miocene reservoirs, is anticipated to reach a TD of 13,500 ft (4, 115 m).
“We have multiple opportunities for substantial hydrocarbon discovery in the near-term, with the Katmai prospect results expected by our second quarter earnings call and the Bright prospect anticipated to be at total depth by the end of the third quarter,” said Susan M. Cunningham, senior VP, Gulf of Mexico, West Africa, and Frontier for Noble Energy. “In addition to our exploration programs, we are also currently drilling a second well at Dantzler as we progress multiple major projects toward first production.”