Total this morning confirmed a “major deepwater discovery”.
The French explorer revealed it had made an oil discovery in the Ballymore prospect, located deep offshore in the US Gulf of Mexico.
“Ballymore is the largest discovery by Total in the prolific Gulf of Mexico and bolsters our new exploration strategy put in place since 2015”, said Kevin McLachlan, senior vice president Exploration at Total.
The well, which was drilled to a final depth of 8,898 meters and encountered 205 meters of net oil pay in a high quality Norphlet reservoir, could also unlock the emerging Norphlet play for the major.
“This major discovery gives us access to large oil resources and follow on potential in the emerging Norphlet play. It also demonstrates all the interest of Total’s GoM farm-in agreement with Chevron, where we acquired a 40% interest in Ballymore. While already deemed commercially viable, we will work together on the appraisal of this discovery and a cost-effective scheme to ensure a rapid, low breakeven development”, added Arnaud Breuillac, president exploration & production at Total.
Located in water depth of about 2,000 meters and 120 kilometers from the Louisiana coast, the Ballymore prospect covers four blocks in the Norphlet play, including Block MC 607 where the discovery was made. Total’s acquisition of a 40% working interest in Ballymore was part of an exploration agreement with Chevron (60%, operator) signed in September 2017 that included seven prospects covering 16 blocks in the Norphlet (Eastern GoM) and the Wilcox (Central GoM) plays.
n the Gulf of Mexico, Total focuses on the deep water domain with working interests in two producing fields, Tahiti with 17%, operated by Chevron, and Chinook with 33.33%, operated by Petrobras. Total also holds a 40% working interest in the North Platte discovery, operated by Cobalt International Energy, and 12.5% in the Anchor discovery, operated by Chevron. As part of the acquisition of Maersk Oil company, Total will become a 25% partner in the Chevron operated Jack field. Total also holds participations in over 160 exploration leases.
Onshore, Total operates about 100,000 barrels of oil equivalent per day (shale gas production) in the Barnett play and is a 25% participant in a JV operated by Chesapeake in the Utica shale play.
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