Marathon makes oil discovery in deepwater gulf

Marathon Oil Corp. has made a deepwater discovery on Green Canyon Block 244 (OCS-G 11043) in 2,900 ft of water in the Gulf of Mexico about 137 miles south-southwest of Venice, La.

Apr 10th, 2007

By OGJ editors
HOUSTON, Apr. 10 -- Marathon Oil Corp. has made a deepwater discovery on Green Canyon Block 244 (OCS-G 11043) in 2,900 ft of water in the Gulf of Mexico about 137 miles south-southwest of Venice, La.

The Droshky-1 well (previously named Troika Deep) was drilled to a TD of 21,190 ft and encountered high-quality oil-bearing reservoirs. The well logged about 250 ft of net oil pay, with thickness similar to that encountered by the 1994 Troika discovery well at the same location, according to an analyst note. Troika has estimated recoverable reserves of 220 million boe, the analyst said, adding that conservative estimates of recoverable reserves at Droshky are placed at 100-150 million boe.

Development of the discovery is possible through the Troika Unit infrastructure about 2 miles from the Droshky well.

Preparation has begun for drilling of two sidetrack wells, which are expected to take 30 days each. Marathon has the drilling rig under contract until the end of the sidetrack program, after which engineering development studies will follow, the company said.

Marathon holds a 100% interest in the Droshky-1 well and a 50% interest in the Troika Unit.

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