Nexen pursuing prospects in Golden Eagle area

Nexen has completed drilling of the Hobby discovery well in the UK North Sea and two subsequent sidetracks.

Offshore staff

ABERDEEN --Nexen has completed drilling of the Hobby discovery well in the UK North Sea and two subsequent sidetracks. Results were encouraging, the company says, with all three wells encountering significant, high quality oil pay.

Nexen expects to spud another appraisal well shortly, likely followed by a third sidetrack. Hobby is one of three discoveries in the same region, known as the Golden Eagle area, just north of Nexen's Buzzard complex. The company plans to drill further prospects nearby later this year.

It also expects first production in the coming months from its Ettrick development, which is based on a leased FPSO designed to process 30,000 b/d of oil and 35 MMcf/d of gas.

04/28/2009

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