Noble hits pay in deepwater GOM

Noble Energy Inc. has successfully completed both the Katmai exploration well and the Dantzler appraisal well in the deepwater Gulf of Mexico.

Aug 28th, 2014

Offshore staff

HOUSTON –Noble Energy Inc. has successfully completed both the Katmai exploration well and the Dantzler appraisal well in the deepwaterGulf of Mexico.

Wireline logging data atKatmai indicates a discovery of 154 net ft (47 m) of crude oil pay in multiple reservoirs including 117 net ft (36 m) in Middle Miocene and 37 net ft (11 m) in Lower Miocene reservoirs. In Green Canyon block 40, the discovery well reached 27,900 ft TD (8,504 m) in 2,100 ft (640 m) of water.

Total gross resources at Katmai are estimated at between 40 and 100 MMboe, including 40 to 60 MMboe discovered from this initial well. Noble will continue to explore and appraise this discovery to test the remaining upside potential.

Noble operates Katmai with a 50% working interest, while Ridgewood Energy Corp. holds the remaining 50% interest.

Situated in Mississippi Canyon block 782, theDantzler-2 appraisal well encountered 122 net ft (37 m) of crude oil pay in two Miocene reservoirs. The well reached a TD of 18,210 ft (5,550 m) in 6,600 ft (2,012 m) of water. Gross resources have increased to 65-100 MMboe.

Noble has incorporated Dantzler into the Rio Grande development area, which also includes discoveries at Big Bend and Troubadour. Development of this project remains on schedule with first production from Big Bend expected in 4Q 2015 and Dantzler in 1Q 2016.

Noble operates Dantzler with a 45% working interest. Additional interest owners are entities managed by Ridgewood Energy Corp. including ILX Holdings II, LLC (a portfolio company of Riverstone Holdings, LLC) with 35%, and W&T Energy VI, LLC (a wholly owned subsidiary of W&T Offshore Inc.) with 20%.

Susan M. Cunningham, senior vice president, Gulf of Mexico, West Africa, and Frontier, said, "The results at Katmai and Dantzler highlight Noble Energy's successful deepwater Gulf of Mexico program, which will contribute significant production and cash flow growth in the coming years. What we discovered at Katmai represents another commercial discovery in the Miocene trend and de-risks nearby prospects in the company's Aleutians area. Our appraisal program at Dantzler has exceeded our expectations and enhances the value of the development."

8/28/14

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