Anadarko has deepwater oil discovery at Phobos-1 in GoM

Offshore staff

HOUSTON – The Anadarko Petroleum Corp. (NYSE: APC) Phobos-1 well in the deepwater Gulf of Mexico encountered approximately 250 net feet (76 m) of high-quality oil pay in Lower Tertiary-aged reservoirs.

The Phobos discovery, in Sigsbee Escarpment block 39, was drilled to a TD of 28,675 ft (8,740 m) in approximately 8,500 ft (2,591 m) of water, approximately 11 mi (18 km) south ofAnadarko’s Lucius discovery. Anadarko is incorporating the data from the Phobos well to determine future activities.

Anadarko is the operator with a 30% working interest. Co-owners in Phobos are Plains Exploration & Production Co. (NYSE: PXP) with a 50% working interest and Exxon Mobil Corp. (NYSE: XOM) with a 20% working interest.

“Phobos is our first well in the previously untested Sigsbee Escarpment area of the Gulf of Mexico and successfully tested a significant four-way structure in the Lower Tertiary,” said Bob Daniels, Anadarko SVP International and Deepwater Exploration. “Phobos’ close proximity to ourLucius project is expected to further enhance the economics of this potential future development.”

4/25/2013