Anadarko announces deep-water Gulf oil discovery

Anadarko Petroleum Corp. says one of the deep-water Gulf of Mexico oil wells it operates has hit pay dirt.

The independent oil and natural gas exploration and production company, which is based in The Woodlands, said Thursday the Phobos-1 well encountered roughly 250 feet of high-quality oil pay in undersea reservoirs.

Anadarko said Phobos marks the company’s third significant deep-water success this year.

Phobos, located in Sigsbee Escarpment block 39 about 260 miles southeast of Houma, La.,  was drilled in 8,500 feet of water, about 11 miles south of Anadarko’s Lucius discovery, which is under development. Future activities at Phobos will be considered, Anadarko said.

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Anadarko is the operator of the Phobos discovery and has a 30 percent stake. Plains Exploration & Production Co. has a 50 percent stake and Exxon Mobil Corp. has a 20 percent stake.

As of the end of last year, Anadarko had roughly 2.56 billion barrels-equivalent of proved reserves.

 

(Anadarko Petroleum Corporation)

(Anadarko Petroleum Corporation)