Kerr-McGee Corp. announces Gulf of Mexico oil find

Kerr-McGee Corp., Oklahoma City, on Monday said it has made an oil discovery in the deepwater Gulf of Mexico in its Gunnison prospect area on Garden Banks Block 668. The 17,000-ft discovery well, drilled in 3,150 ft of water, encountered 275 ft of net pay in three main zones.


Kerr-McGee Corp., Oklahoma City, on Monday said it has made an oil discovery in the deepwater Gulf of Mexico in its Gunnison prospect area on Garden Banks Block 668.

The 17,000-ft discovery well, drilled in 3,150 ft of water, encountered 275 ft of net pay in three main zones. It is the company's third discovery in the past 9 months in the deep water.

Kerr-McGee subsidiary Kerr-McGee Oil & Gas Corp. is operator of the Gunnison sub-basin, which includes Garden Banks Blocks 667, 668, and 669. Kerr-McGee Oil & Gas holds a 50% interest in the blocks. Its partners are Canadian Occidental Petroleum Ltd., 30%, and Cal Dive International Inc., 20%.

Kerr-McGee holds interests in more than 25 blocks in the greater Gunnison area, "offering the opportunity to develop yet another core area in this high-potential trend," says Luke R. Corbett, chairman and CEO of Kerr-McGee. The company currently is drilling a downdip appraisal sidetrack to explore the extent of the reservoir. Additional appraisal sidetracks are being considered to further delineate the Gunnison discovery.

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