Cobalt International Energy has completed drilling operations at the North Platte #4 appraisal well in the US Gulf of Mexico.
The company claimed that the preliminary results are encouraging as the well encountered nearly 650ft of net oil pay.
The preliminary results are higher than the results found in North Platte #3 appraisal well that had nearly 550ft of net pay.
North Platte #4 initial appraisal results also reveal that high-quality Inboard Lower Tertiary Wilcox reservoirs are located towards the eastern flank of the North Platte field.
The company is currently analysing log data, fluid samples and pressure information procured during the operation.
It is also preparing a geologic sidetrack to find out the extent of eastern flank of this oilfield.
This geological sidetrack is anticipated to be completed by the first quarter of this year.
Cobalt International Energy chief executive officer Timothy J Cutt said: “This well result is an important milestone in the appraisal of the full potential of the North Platte field. The confirmation of high-quality reservoir on the large eastern flank of the field is encouraging.”
The company will provide an update on the resource potential after completion of sidetrack operations.
Cobalt International Energy holds 60% working interest in North Platte. The remaining 40% stake is owned by Total E&P USA.
Established in 2005, Cobalt International Energy works in different projects located in the deepwater US Gulf of Mexico and offshore West Africa. The company is headquartered in Houston, Texas.
Image: An operated rig. Photo courtesy of Cobalt International Energy.