BP: Successful Drilling At South Mad Dog
July 17 2009 - 10:33AM
Dow Jones News
BP PLC (BP.LN) Friday announced the drilling of a successful
appraisal well in a previously untested southern segment of the Mad
Dog field.
MAIN FACTS:
-The 826-5 well is located on Gulf of Mexico Green Canyon block
826 approximately 100 miles (160 kilometers) south of Grand Isle,
LA., in about 5,100 feet (1,554 meters) of water.
-The well encountered about 280 net feet (85 meters) of
hydrocarbons in the objective Miocene hydrocarbon-bearing sands and
discovered an oil column of more than 2,200 feet (670 meters).
-The results from this well continue the successful phased
development of the Mad Dog field and build upon the success from
2008 where the A-7 well in the western part of the field
encountered a hydrocarbon column of more than 2,500-feet (762
meters), and 275 feet of net pay (84 meters).
-"With these additional hydrocarbon resources in the west and
south of the field, Mad Dog has been firmly established as the
third giant field in BP's Gulf of Mexico portfolio, joining Thunder
Horse and Atlantis," said Andy Inglis, BP's chief executive officer
for exploration and production.
-"Due to the materiality of these recent finds, we are reviewing
development options to increase production from Mad Dog either
through debottlenecking the existing facility or by adding another
production facility".
-BP (NYSE:BP) maintains a 60.5 percent working interest in Mad
Dog. BHP Billiton (NYSE:BHP / BBL) has a 23.9 percent interest,
Chevron (NYSE:CVX) has a 15.6 percent interest.
-By London Bureau, Dow Jones Newswires; Contact Ian Walker; +44 (0)20 7842 9296; ian.walker@dowjones.com