Source Pravda.Ru

BHP Billiton Claims Positive Results In Drilling

BHP Billiton Ltd/plc said drilling results from its Neptune-3 appraisal well in the Gulf of Mexico have delivered positive results.

In a statement, the company said the well was drilled to a measured depth of 18,643 feet and has been temporarily abandoned.

"The well encountered 450 gross feet of hydrocarbon column, with approximately 130 feet of net oil pay in a similar Miocene age reservoir as seen in Neptune-1 and 2. An additional 20 feet of net oil pay was also encountered in a younger Miocene age reservoir," it said.

After integration of final fluid sample analysis, petrophysical interpretation and new seismic data, BHP Billiton and its partners will select a subsequent location for appraisal drilling and expect to commence further operations within six months.

BHP Billiton is the designated operator of the five-block unit with a 50% working interest, while Marathon Oil Co has a 30% interest and Woodside Petroleum Ltd has 20%.

Pending the further appraisal results, the development options include a tieback to a future production hub in the area or a stand-alone production facility, it said.

BHP Billiton Petroleum's Steve Bell said: "This is a positive outcome. We knew we had oil in the reservoir but previous results suggested that the flow characteristics of the fluids from Neptune-2 were poor and inadequate to sustain a commercial development."

"However with this well result, we have not only confirmed the oil column but also demonstrated that the hydrocarbons have significantly better flow properties, offering the potential for development," he said.

Bell said the company will need to evaluate all the data and carry out further appraisal activity in order to fully assess the commercial potential of the accumulation.

©

&to=http://www.bhpbilliton.com/bb/home/home.jsp' target=_blank>BHP Billiton

On December 10, 1948 the Universal Declaration of Human Rights was adopted by the United Nations General Assembly, its thirty articles enshrining basic and fundamental rights guaranteeing dignity of the human person and equality for all, regardless of race, color, creed or gender. A pipe dream?

Human Rights Day: Let us hang our heads in shame
Comments
Putin makes first comment on Trump's Jerusalem decision
Turkish President Erdogan issues ultimatum to Washington and Brussels
Putin makes first comment on Trump's Jerusalem decision
Putin makes first comment on Trump's Jerusalem decision
Elon Musk sells old ideas to NASA under the guise of unprecedented innovations
Russian general says allegations of his involvement in MH17 crash are stupid
Europeans say what puzzles them in Russia most
Putin makes first comment on Trump's Jerusalem decision
Putin makes first comment on Trump's Jerusalem decision
USA looking for reason to see nuclear weapons in action
Why did Donald Trump recognise Jerusalem as the capital of Israel?
Putin makes first comment on Trump's Jerusalem decision
Russia works on MiG-41 doomsday fighter jet
Russia works on MiG-41 doomsday fighter jet
Russia works on MiG-41 doomsday fighter jet
Mikhail Saakashvili's bumpy ride in politics: From chewing his tie to climbing on rooftop
Mikhail Saakashvili's bumpy ride in politics: From chewing his tie to climbing on rooftop
European Court of Human Rights: Promoting filth and insolence
European Court of Human Rights: Promoting filth and insolence
Russian athletes announce their decision about 2018 Winter Olympic Games
Turkish President Erdogan issues ultimatum to Washington and Brussels