Noble Energy boosts interest to 60% in Gulf’s deepwater Lorien discovery

Ray Tyson

Petroleum News Houston correspondent

Exploration and production independent Noble Energy has acquired an additional 40 percent interest from ConocoPhillips in the Lorien discovery well on Green Canyon block 199 in the deepwater Gulf of Mexico, the company said April 20.

Noble said the acquisition increases its working interest in Lorien from 20 percent to 60 percent, adding that it also will take over as operator of the block.

Of ConocoPhillips’ 65 percent working interest, Noble Energy acquired 40 percent, with the remaining 25 percent acquired by Norsk Hydro E&P Americas and Davis Offshore. Norsk has a working interest of 30 percent, and Davis has a working interest of 10 percent.

The acquisition of ConocoPhillips’ working interest in Lorien by Noble Energy and its partners is subject to approval by the U.S. Minerals Management Service.

A project team is working on plans for an appraisal of the Lorien discovery during 2004, Noble said. Announced as a discovery in July 2003, the Lorien well is in 2,177 feet of water. The well was drilled to a total measured depth of 18,703 feet and encountered more than 120 feet of apparent oil pay in a “high-quality” reservoir interval, Noble said.