By OGJ editors
HOUSTON, Apr. 20 -- BHP Billiton reported that its Neptune-7 appraisal well, drilled on Atwater Valley Block 618 in the central Gulf of Mexico, found a hydrocarbon column with about 114 ft of net oil pay. The well, drilled to more than 18,700 ft TD in 6,260 ft of water about 135 miles off Louisiana, was spud using the Explorer drillship, operated by GlobalSanteFe.
Development prefeasibility studies for the Neptune prospect area are expected to reach completion by yearend. Other recent wells include: Neptune-5, drilled in 2003 on AV Block 574 finding about 500 ft of net oil pay, and Neptune-3, drilled in 2002 on AV Block 617, logging 130 ft of net pay.
The Neptune prospect is in the Atwater Foldbelt region, which includes Mad Dog and Atlantis fields.
BHP Billiton is the designated operator of Block 618 with 35% working interest. Partners are Marathon Oil Co. 30%, Woodside Energy (USA) Inc. 20%, and Repsol-YPF SA unit Maxus (US) Exploration Co. 15%.
