By OGJ editors
HOUSTON, Mar. 8 -- Ocean Energy Nigeria Ltd., a wholly owned subsidiary of Devon Energy Corp., Oklahoma City, has farmed out a 12.5% interest in OPL Block 256 to Spinnaker Exploration Co., Houston.
Pending Nigerian government approvals, the interest transfer would increase Spinnaker's gross deepwater acreage to 1.5 million acres.
The 2,550 sq km block, acquired by Devon and Nigerian Petroleum Development Co. Ltd. in a minibid licensing round in 2002, is 200 km off Nigeria in 1,500-2,800 m of water. It represents in gross terms three quarters of the size of Spinnaker's entire deepwater holdings in the Gulf of Mexico, the company said.
Spinnaker has acquired a recent 3D seismic survey of the block, portions of which have been reprocessed. Drilling recently began on the initial exploratory well, Tari 1, the first of three commitment wells that will be drilled on the block. The second well also will be drilled this year.