(Ecofin Agency) - Noble Energy a Houston, Texas oil and natural gas exploration and production company will plug and abandon its Cheetah exploration well offshore Cameroon after finding both crude oil and natural gas shows in multiple non-commercial reservoir sands. Oilandgaspeople reports
The company recently announced that Cheetah exploration well in the Tilapia license offshore Cameroon reached the targeted Cretaceous interval, encountering both crude oil and natural gas shows in multiple noncommercial reservoir sands.
Noble revealed that results from the well are being integrated into its geologic modeling for the remaining prospectivity in the Tilapia license. The rig, which drilled the Cheetah well to a total depth of approximately 13,320ft, is to be released at the completion of well operations.
Noble stated in its 1Q 2015 results in May that the Cheetah prospect, which sits in 85ft water depth inside the Tilapia license, in the Douala Basin, was envisioned to contain unrisked gross mean resources of more than 100 MMboe gross. Cheetah is a four-way structure which represented Noble's first Cretaceous oil prospect in Cameroon.
Noble Energy operates the Tilapia production sharing contract (PSC), which includes Cheetah, with 46.67% interest. Its partners are Woodside which has 30% and Glencore 23.33%. Woodside farmed into the PSC in October 2014, and its CEO Peter Coleman at that time called the Douala Basin "an exciting opportunity."