Exxon Tries to Put the Worst Behind it With $20 Billion Writedown
By Jennifer Hiller HOUSTON, Nov 30 (Reuters) – Exxon Mobil Corp on Monday said it would write down the value of natural gas properties by $17 billion to $20 billion,...
The Statoil-contracted drilling rig Songa Trym encountered a minor oil discovery while drilling wildcat well 35/11-17 located approximately 1 kilometer south of the Fram field in the North Sea.
The Norwegian Petroleum Directorate notes “the well’s primary exploration target was to prove petroleum in Middle Jurassic reservoir rocks (the Brent group). The secondary target was to prove petroleum in Middle Jurassic reservoir rocks (the Fensfjord formation).”
Approximately 1 to 3 million cubic meters of recoverable oil equivalents were discovered from the following:
The well was drilled to a TVD of 2889 meters in 357 meters of water depth and will be permanently plugged and abandoned.
Next up for the Songa Trym is the drilling of Statoil’s production well 35/11-A-31 in the same production license.
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