|
Blackbeard prospect has flank potential McMoRan finds fourth potential hydrocarbon-bearing zone at U.S. Gulf prospect; says more drilling could add significant reserves Ray Tyson For Petroleum News
The deep and mysterious Blackbeard wildcat, abandoned by ExxonMobil and re-entered by new owner and operator McMoRan Exploration Co., encountered a promising fourth potential hydrocarbon-bearing zone below 32,850 feet on the Gulf of Mexico’s continental shelf, McMoRan disclosed, adding that the company now believes additional drilling on the prospect’s flanks “could result in significant reserve potential.”
Meanwhile, McMoRan said it’s ready to commence drilling on the Ammazzo prospect at a total proposed depth of 24,500 feet. Based on geologic and seismic data, the company added, this prospect is one of the largest undrilled deep structures below 15,000 feet in the entire shelf region.
The South Timbalier Block 168 Blackbeard well, which is permitted to 35,000 feet, was on the top of the recently identified structure, McMoRan said on Oct. 7, noting that seismic data on the prospect indicated the potential for “significantly thicker sands” on the flanks of the structure, as confirmed in recent major deepwater discoveries.
Many geologists believe this “ultra-deep” frontier zone below 25,000 feet on the shelf, which is located beneath relatively shallow waters, is an extension of prolific oil and gas-bearing formations situated in deeper waters of the U.S. Gulf. A major discovery farther down on the gas-prone shelf could dramatically alter the production dynamics of the shelf, which has been in decline for years.
Exxon original operator ExxonMobil was a partner and operator in the original Blackbeard well, which took a year and a half to drill and is said to have cost up to a staggering $200 million, certainly ranking it among the most expensive wells drilled anywhere in the U.S. Gulf. Exxon gave up on the well in August 2006 at around 30,000 feet due to rig problems.
McMoRan, an exploration and production independent, acquired Blackbeard as part of a larger $1.1 billion property acquisition deal with fellow E&P independent Newfield Exploration. McMoRan and minority partners PXP and Energy XXI then announced plans to re-enter and deepen the well using a beefed up Rowan jack-up rig.
Previous well logs had indicated three potential hydrocarbon-bearing zones that would require further evaluation, McMoRan said, noting that recent logs taken in October indicated the well had encountered a fourth potential hydrocarbon-bearing zone.
In September McMoRan leased an additional rig, the Rowan-Mississippi, a new 240C class jack-up, to help with its expanding ultra-deep shelf exploration program, starting with the drilling of its Ammazzo prospect, located in 25 feet of water on South Marsh Island Block 251.
Ammazzo is positioned on the southern portion of the structural ridge extending from McMoRan’s Flatrock and JB Mountain discoveries, where McMoRan has successfully proven the existence of Rob-L, Operc and Gryo sands in the Middle Miocene.
There are multiple targets at the Ammazzo prospect in the Middle Miocene representing “significant” exploration potential from 500 billion cubic feet of natural gas equivalents to greater than 1 trillion cubic feet, similar to Flatrock and potentially larger, McMoRan said.
McMoRan will operate the Ammazzo exploration well with a 25.9 percent working interest and a 21.1 percent net revenue interest. PXP holds a 28.1 percent interest in the well, and Energy XXI holds a 16 percent working interest.
| 