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Noble Energy discovers oil in deepwater Gulf of Mexico and more gas at Tamar field, offshore Israel 

HOUSTON -- Noble Energy has announced discoveries at the Dantzler exploration well in deepwater Gulf of Mexico and at the Tamar Southwest exploration well, offshore Israel.

At Dantzler, wireline logging data indicates that the well encountered over 120 net ft of primarily crude oil pay in two high-quality Miocene reservoirs. The discovery well, located in Mississippi Canyon 782, was drilled to a total depth of 19,234 ft in 6,580 ft of water. Dantzler is located 12 miles west of the Company' s Rio Grande development area, which includes discoveries at Big Bend and Troubadour. Discovered gross resources at Dantzler are now estimated at between 55 and 95 MMboe.

The Tamar SW well, testing a new exploration prospect, encountered 355 ft of net natural gas pay within the targeted Miocene intervals. Tamar SW, which was drilled to a total depth of 17,420 ft in 5,405 ft of water, is the Company' s eighth consecutive discovery in the Levant Basin. The field is located 8 miles southwest of the Tamar field. Evaluation of drilling data and wireline logs has confirmed the range of gross resources of the field to be between 640 Bcf of natural gas and 770 Bcf. The well encountered high-quality reservoir sands, with per well productivity anticipated to be 250 MMcfd of natural gas.

Mike Putnam, Noble Energy' s VP, Exploration and Geoscience, commented, "These new discoveries, combined with our exploration and appraisal successes earlier this year, have continued our successful organic exploration track record and identified new sources of future growth for Noble Energy. Dantzler represents our third consecutive exploration discovery in the Miocene trend of the Gulf of Mexico and complements our existing developments at Rio Grande and Gunflint. The field' s proximity to our Rio Grande area provides the opportunity for an accelerated development at Dantzler. In Israel, the discovery at Tamar SW further enhances our discovered resources in the Eastern Mediterranean, which now totals nearly 40 Tcf of natural gas. The discovery also underpins our ability to meet the growing market demand in Israel and within the region."

Noble Energy operates Dantzler with a 45% participating interest. Additional interest owners are entities managed by Ridgewood Energy Corporation with 35% and W&T Energy VI, with 20%. In the Deepwater Gulf of Mexico, the Company anticipates drilling at least two additional Miocene trend prospects in 2014.

Following completion of operations at Tamar SW, the drilling rig will be released to another operator. Noble Energy operates Tamar SW with a 36 % working interest. Other interest owners are Isramco Negev 2 with 28.75%, Delek Drilling with 15.625%, Avner Oil Exploration with 15.625% and Dor Gas Exploration with 4%.

12/05/2013

 

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