Anadarko Petroleum Corp. has encountered a total of 165 feet of net oil pay with its K2 North No. 2 well in the Gulf of Mexico. With the field's oil-water contact still not established, this delineation well increases the size of the K2 North discovery.
The K2 North field, located on Green Canyon Block 518, is expected to begin production through the Marco Polo platform in 2005. Anadarko has a 100% working interest in the block.
"The K2 North field is an example of how Anadarko is building its Gulf of Mexico deepwater program to be a core component of the growth strategy," said Jim Hackett, Anadarko President and CEO. "We have yet to determine the field limits, but the delineation well extends the discovery significantly."
The well's bottom-hole location is about on1 mi northwest of Anadarko's K2 North No. 1 discovery, which was announced in November 2003. The No. 2 well was spudded in December 2003 in 4,000 ft of water and was drilled to a total depth of 29,180 ft. The semisubmersible rig is remaining on location to further delineate the field.
"This well also has positive implications for the neighboring K2 field, in which we hold a 52.5% interest," added Hackett.
The K2 field will also be tied back to the Marco Polo platform with first production expected in 2005. Anadarko is currently completing the first of six pre-drilled development wells from its Marco Polo field, which is on schedule for first production in July 2004.
Anadarko currently has access to 538 blocks in the Gulf of Mexico; 243 of those are in deepwater. Anadarko is one of the world's largest independent oil and gas exploration and production companies. Its operational focus includes the Gulf of Mexico and prolific onshore US basins, as well as significant production in Algeria, Venezuela and Qatar. The company is executing strategic exploration programs in several other countries.
