Norway’s Equinor and its partners have struck oil at the Monument prospect in the U.S. Gulf of Mexico (GoM), the company said April 6.
Drilled by the Pacific Khamsin rig to a depth of 33,348 feet, the well—Equinor’s first operated exploration well in the GoM—found about 200 ft of net oil pay with good reservoir characteristics in Paleogene sandstone.
Monument is located in Walker Ridge blocks 271 and 316.
“We are pleased to have proved an accumulation of movable hydrocarbons in the Monument exploration well,” Bjørn Inge Braathen, Equinor’s senior vice president of exploration in North America, said in a news release. “However, determining the full potential of the discovery will require further appraisal drilling.”
Holding a 50% interest, Equinor is the operator. Partners are Progress Resources USA Ltd. (30%) and Repsol E&P USA Inc. (20%).
Recommended Reading
Post Oak Minerals Acquires Permian Basin Interests for $475MM
2024-07-29 - Post Oak Minerals V, an affiliate of Post Oak Energy Capital, has closed 10 transactions since the onset of 2024, including 24,000 net royalty acres from APA Corp. subsidiary Apache.
Texas Pacific Land Acquires Delaware Minerals, Midland Acreage
2024-08-27 - Texas Pacific Land Corp. said it closed acquisitions of net royalty interests in the Delaware Basin and more than 4,100 Midland Basin acres.
Diamondback Subsidiary Viper Closes $900MM Midland Royalty Deal
2024-10-02 - Diamondback Energy’s Viper Energy closed the last of three acquisitions from Tumbleweed Royalty, owned by Double Eagle Energy’s founders, that together totaled about $1.1 billion.
Rising Phoenix Royalties Adds Permian Basin Mineral Interests
2024-08-29 - The acquisition of Permian Basin interests in Dawson County, Texas, follows a July deal by Rising Phoenix Royalties for a non-operated working interests in the Denver-Julesburg (D-J) Basin.
Texas Pacific Land Closes $290MM Permian Minerals, Royalties Deal
2024-10-03 - Texas Pacific Land Corp. acquired Permian Basin oil and gas minerals and royalties operated by Exxon Mobil, Diamondback Energy, Occidental Petroleum and ConocoPhillips.