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Map of Anchor, from Chevron. |
Houston’s Cobalt International Energy has entered into a definitive agreement with its co-owners in the Anchor development to unitize and include Cobalt’s two leases immediately south of the current Anchor unit (Green Canyon blocks 850 and 851) into the existing Anchor unit.
The transfer of interests in the two leases and the revised Anchor unit are subject to customary regulatory approval. Following such approval, Cobalt will retain a 20% working interest in the revised Anchor Unit.
The original Anchor discovery well is in Green Canyon Block 807, some 140mi (225km) off the coast of Louisiana in 5180ft (1579m) water depth.
“Expansion of the Anchor unit to include Cobalt’s two blocks to the south is key to optimizing the development plan and increasing oil recovery from Anchor as the reservoir clearly extends onto these blocks,” says Timothy J. Cutt, Cobalt CEO. “This agreement makes Anchor even more attractive of a development going forward, whether for us or for a potential purchaser in our ongoing sales efforts.”
In March, operator Chevron hit oil at the Anchor-4 appraisal well, encountering about 800ft of net oil pay in multiple inboard Lower Tertiary reservoirs.
Chevron subsidiary Chevron USA Inc. is the operator of the Anchor prospect with 55% interest. Its partners include Cobalt International Energy (20%), Samson Offshore Anchor (12.5%), and Venari Resources (12.5%).
Read more:
Chevron strikes oil at Anchor appraisal
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