BHP Billiton hits pay in Caicos well

BHP Billiton has announced positive drilling results at the Caicos exploration well in the Gulf of Mexico. 

Located in Green Canyon 564 where BHP Billiton has 100% interest, this well is approximately 100 miles south of the Louisiana coast in the deepwater Gulf of Mexico.

The company said on Wednesday that Caicos was drilled to a total depth of 30,803 feet and encountered oil in multiple horizons. The well was drilled with Seadrill’s 2013-built drillship West Auriga.

The 6th generation ultra-deepwater drillship West Auriga is under a long-term contract with BP in the Gulf of Mexico. The rig’s contract was assigned to BHP Billiton Petroleum (Deepwater) Inc., on June 10, 2016, for one well with an option for a second well with BP’s consent.

BHP Billiton President Operations Petroleum, Steve Pastor, said at an investor briefing in London: “We are encouraged by the Caicos results and are moving to further appraise the area. The next step will be drilling the Wildling well in November. With success at Caicos and Shenzi North, we continue to be optimistic around the opportunity for a commercial development in the area.”

Earlier this year, BHP Billiton announced plans to increase its spending on exploration for the next year. The company plans to invest approximately $900 million dollars in exploration, which represents 18 percent of its overall capital budget.

Offshore Energy Today Staff

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