ConocoPhillips has drilled the Kamoxi-1 exploration well to a total depth of 22,660 ft in Block 36 in the Kwanza basin offshore Angola. The well will be plugged and abandoned as a dry hole.
“Although the Kamoxi well results were disappointing, we continue to see potential for this subsalt Angola play,” said Larry Archibald, ConocoPhillips senior vice-president, exploration. “After plugging Kamoxi, we will spud a well on adjacent Block 37, which will be the second wildcat in our planned four-well exploration program in the Kwanza basin.”
Archibald added that the company will follow up on the FAN-1 well offshore Senegal, where drilling has launched on a second wildcat (OGJ Online, Oct. 7, 2014). Additional drilling activity is being contemplated for late 2015 or 2016.
An aftertax charge of $140 million net to ConocoPhillips will be recorded to dry hole expense in the fourth quarter, which includes estimated costs through November.
