Noble Energy to resume Falkland Islands drilling in mid-2015

Noble Energy, Inc. today confirmed plans to resume exploration drilling in the Falkland Islands in 2015 following the acquisition and evaluation of an extensive 3D seismic program over portions of the Company’s 10 million acre position.

Noble Energy’s initial operated prospect has been named Humpback and is located in the Fitzroy sub-basin of the Southern Area License.

The Humpback prospect is one of multiple stacked fan prospects clustered together in the sub-basin. This group of prospects combined has an estimated gross unrisked resource potential of approximately one billion barrels of oil equivalent.

Noble Energy expects drilling operations at Humpback to begin in mid-2015, dependent on the rig arrival. Noble Energy is currently finalizing prospect locations for a second exploration well, planned for later in 2015 following results at Humpback.

Related: Eirik Raude rig to drill in the Falkands?

 

Noble Energy operates its licenses offshore the Falkland Islands with a 35 percent working interest.

Mike Putnam, Noble Energy’s Vice President of Exploration, said:“We are excited about our upcoming exploration program in the Falkland Islands where we will be testing a basin with multibillion barrel potential. Our recent 3D seismic acquisition has confirmed our initial thoughts that the basin contains prospects of material size with ample follow on opportunities. The Falklands provides an opportunity to create another core area for Noble Energy through organic exploration success.”

In addition, the Scotia well, which was drilled in 2012 utilizing 2D seismic interpretation, has now been deemed non-commercial following evaluation of the 3D seismic data and full integration of well results into the Company’s geologic models.

Noble Energy has updated its guidance for third quarter 2014 exploration expense to between $230 and $240 million, including approximately $75 million related to the Scotia well decision. Due to the increased exploration expense, the Company expects its third quarter 2014 adjusted effective tax rate to be between 35 and 38 percent, with most of the tax provision representing current taxes.

 

Press Release, October 01, 2014

 

Share this article

Follow Offshore Energy Today

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply