Noble Energy eyes South, East Falkland basins

Noble Energy Inc. will take a farmout from Falkland Oil & Gas Ltd. and will invest $180-230 million in the next 3 years in the South and East Falkland basins in the South Atlantic. FOGL’s license position consists of 10 million acres (see map, OGJ, Dec. 5, 2005, p. 35). Noble Energy said it has identified numerous oil leads on 2D data with an unrisked gross resource potential exceeding 6 billion bbl of oil. Noble Energy Falklands Ltd. will farm-in to FOGL’s northern area licenses for a 35% interest except for two excluded areas. FOGL will continue as operator of all northern area licenses until early 2013, when operatorship of the farm-in area will be transferred to Noble. The exclude...

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