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Noble Energy provides Gulf of Mexico drilling update

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Oilfield Technology,

Noble Energy, Inc. (NYSE: NBL) has announced it has completed drilling operations at the Silvergate exploration well, drilled on Mississippi Canyon Block 339. The well is being plugged and abandoned after encountering no commercial hydrocarbons. Noble Energy operated the well with a 50% working interest. The costs associated with the well will be recorded in results for the first quarter of 2016. It is expected that the total exploration expense for the company in the first quarter of 2016 will be towards the upper end of the previously-provided US$130 to US$170 million guidance range.

Upon completion of operations at Silvergate, the rig will move to Green Canyon Block 39 and commence drilling an appraisal well at the Katmai oil discovery. The appraisal well is designed to test additional gross resource potential beyond the 40 to 60 million boe already discovered. Results from the Katmai appraisal well are expected in the early part of the fourth quarter of 2016. Potential development at Katmai would likely involve a subsea tie-back into existing infrastructure. Noble Energy operates Katmai and has a 38% working interest in the appraisal well.

Adapted from a press release by Louise Mulhall

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