Offshore staff
HOUSTON -- Newfield Exploration Co. confirms the Blackbeard West No. 1 well failed to reach its primary targets due to higher than expected pressure. The operator (ExxonMobil) is preparing to temporarily abandon the well.
The well, drilled in South Timbalier block 168 in 70 ft of water, reached a total depth of 30,067 ft and encountered a thin gas bearing sand below 30,000 ft.
"Although disappointed that we were unable to test our primary objectives, we have learned a great deal about drilling ultra-deep wells," says David Trice, Newfield chairman, president and CEO.
"This has been a challenging well to test a true frontier play, but Newfield is sufficiently encouraged to continue investing in this play, says Trice. "We intend to use the information gathered from this well to investigate if a well can be designed which will allow us to safely test this prospect in the future."
Newfield has invested approximately $25 million (net) to date in the drilling of the Blackbeard well, which covers multiple blocks in the South Timablier and Ship Shoal areas offshore Louisiana.
The Blackbeard West No. 1 well is operated by Exxon Mobil with a 25% working interest. Partners include Newfield (23%), BP (20%), Petrobras America (20%), Dominion (7%), and BHP Billiton (5%).
Newfield adds that it is working on plans to retain the leases where the well was drilled, but its success is uncertain. The company anticipates that it will be at least two years before drilling of a redesigned well could begin.
08/17/06
