By an OGJ correspondent
RIO DE JANEIRO, June 5 -- Partners in the Cascade prospect on Walker Ridge Block 206 in the ultradeepwater Gulf of Mexico discovered an "encouraging hydrocarbon-bearing column," they said. Further drilling will be required to determine the size of the find, the partners said.
The Cascade-1 well was drilled in 8,200 ft of water to 27,929 ft TD (measured from the deck of the drilling vessel) using GlobalSantaFe Corp.'s C.R. Luigs drillship. Partners are operator BHP Billiton Ltd. 50% and Petroleo Brasileiro SA and Devon Energy Corp., each with 25%
Drilling of the well began on Jan. 31, the partners said, and an appraisal well could be drilled later this year following analysis of core samples and other available information, the partners said.
Cascade lies about 35 miles south-southwest of the Mad Dog and Atlantis oil and gas discoveries, where earlier this year BHP Billiton and partners led by operator BP PLC approved funding to advance these fields into development and production, the firm said.
E&P investment in the Gulf of Mexico is in line with Petrobras's long-term international growth strategy, noted Jorge Camargo, president of Braspetro, Petrobras's international subsidiary. The company has selected this as one of the focus geographic areas to attain its international production growth objective, he added.