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Hess to exploit seven discoveries offshore Ghana

Hess Corp. plans to submit appraisal plans for seven oil and gas-condensate discoveries on its operated Deepwater Tano/Cape Three Points block offshore Ghana to Ghanaian authorities by June 2, 2013.

The company finished drilling its seventh successful exploratory well on the block, Pecan North-1, in 7,411 ft of water 7 miles northeast of Pecan-1. Pecan North-1 encountered 40 ft of net oil pay in a reservoir of Turonian age.

The other wells, results, and water depths are Paradise-1, 415 net ft of oil and gas-condensate pay, 6,040 ft; Pecan-1, 245 net ft of oil pay, 8,245 ft; Beech-1, 146 net ft of oil pay, 5,623 ft; Hickory North-1, 98 net ft of gas-condensate pay, 6,455 ft; Almond-1, 53 net ft of oil pay, 7,251 ft; and Cob-1, 31 net ft of oil pay, 6,330 ft.

The Stena Drillmax drillship drilled the wells, and gross costs averaged $40 million/well for the last three wells including success-case logging.

The company said, “Based on the results of these wells and Hess’ extensive experience in Equatorial Guinea, where the geology is quite similar,” the company will submit the appraisal plans and has begun predevelopment studies.

Working interests in the block are Hess 90% and Ghana National Petroleum Corp. 10% carried through to the production phase of the license.

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