Unocal announces K2 deepwater oil discovery; suspends drilling on Sumatra prospect

abarrelfull wrote on 07 May 2014 05:43
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Sept. 29, 1999 - Unocal Corporation's Spirit Energy 76 unit today announced that the deepwater K2 prospect exploration well in the Green Canyon area of the Gulf of Mexico discovered oil in a high quality reservoir.

The K2 well was drilled in 3,900 feet of water on Green Canyon 562, about 180 miles south of New Orleans.

The company said that the joint venture participants decided to temporarily suspend the well and develop plans for appraisal of the hydrocarbon zone and exploration of the deeper objectives. Drilling on the prospect is expected to resume in the Spring 2000.

Conoco, Inc., is operator and has a 50-percent working interest. Unocal holds the remaining 50-percent working interest.

The successful K2 well is Unocal's fourth deepwater Gulf of Mexico discovery.

Spirit Energy said its deepwater subsalt exploration well on the Sumatra prospect (Garden Bank 941) has been temporarily abandoned after reaching a depth of 21,207 feet. Water depth was 3,700 feet.

"We had encouraging technical results with oil shows both above and below the salt, proving that the prospect has an active petroleum system," said Mike Bell, Spirit Energy vice president for deepwater. "Unfortunately, the well encountered mechanical difficulties before reaching its primary objective. We believe these difficulties can be overcome by utilizing the larger, state-of-the art Discoverer Spirit drillship when it arrives next year." The Sumatra well was drilled using the George Richardson drillship.

Unocal has a 100-percent working interest in Sumatra.

Spirit Energy has spudded the next well on its deepwater schedule — a delineation well to the earlier McKinley discovery by Texaco, Inc., in Green Canyon 416. The McKinley well should occupy the balance of contract for the George Richardson drillship. The company is earning a 50-percent interest in the six-block McKinley prospect by drilling this delineation well.

• Unocal announces K2 deepwater oil discovery; suspends drilling on Sumatra prospect

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