Gulf of Mexico-focused Deepwater oil exploration and production company Venari Resources has acquired an additional 7% stake in the Shenandoah field on Walker Ridge Blocks 51, 52 and 53. The company has also reported successful results from the Shenandoah #5 appraisal well.
The Shenandoah #5 well was drilled on Walker Ridge Block 51 in about 5900ft water depth to a total depth of 31,100ft. The well was drilled up-dip of the Shenandoah #2 appraisal well and was designed to confirm and extend reservoir boundaries.
The well encountered over 1000 net feet of high-quality oil pay in the Lower Tertiary Wilcox sands and extended the field further east.
The next appraisal well, Shenandoah #6, is expected to spud later this year to further quantify the full resource potential of the field. Earlier this year, Venari increased its working interest in the Shenandoah Unit to 17% from 10%.
“With a high-quality reservoir and substantial net oil pay, the well results confirm Shenandoah to be a significant oil accumulation,” said Brian Reinsborough, President and CEO of Venari. “We are excited that we were able to increase our ownership in the field and continue building our relationship with Anadarko across this strategically important region.”
In partnership with Anadarko Petroleum Corporation, the operator of Shenandoah, Venari owns significant working interests in several exploration prospects proximate to the Shenandoah discovery.
Venari holds a 17% working interest in Shenandoah. Other co-owners are Anadarko, as operator (33%), ConocoPhillips (30%), and Cobalt International (20%).
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