Noble Energy Announces Block I Well Results in Equatorial Guinea

    HOUSTON, Jan. 14 /CNW/ -- Noble Energy, Inc. (NYSE:   NBL) today announced
a successful test in Block "I" offshore Equatorial Guinea. The 'I-4' well,
which is on trend with the Belinda discovery on Block "O" offshore Equatorial
Guinea, encountered a high quality Miocene reservoir that, when tested,
yielded flow rates of 1,634 barrels per day of condensate and 28.9 million
cubic feet per day of natural gas, or approximately 6,450 barrels of oil
equivalent per day (based upon a natural gas to crude oil conversion ratio of
6 to 1), with production rates limited by test equipment.
    The 'I-4' well, located in 2,226 feet (678 meters) of water and seven
miles (11.2 kilometers) southwest of the original Belinda discovery in Block
"O" was successfully drilled to its objective at a total depth of 9,721 feet
(2,963 meters).  The well was the final of the six-well program drilled by the
Songa Saturn drillship on behalf of Noble Energy.
    Charles D. Davidson, Noble Energy's Chairman, President and CEO, said,
"The successful exploration and appraisal drilling program in the Belinda
trend along with further calibration of our seismic and additional reservoir
analysis confirms that the original pre-drill resource range was too
conservative.  We now believe the resource range to be approximately 60
percent greater than original expectations.  In addition, well results in the
area verify the presence of substantial recoverable liquids which are now
estimated to be about 40 percent of the total resources discovered with proper
    Davidson went on the say," We plan to have an active 2008 exploration and
appraisal drilling program for both Blocks "I" and "O" as we assess our
options to commercialize our discoveries in the region.  Our next well,
scheduled to spud in late February with the Sedco 700 drillship, will look to
verify the oil resources downdip at the Benita discovery on Block "I"."
    Noble Energy is the Technical Operator of Block "I" with a 40 percent
participating interest.  Its partners on the block include Atlas Petroleum
International Limited (29 percent participating interest), who is the
Administrative Operator, Glencore Exploration Ltd. (25 percent participating
interest) and Osborne Resources Limited, a company within the PA Resources
Group (six percent participating interest).  GEPetrol (the national oil
company of the Republic of Equatorial Guinea) has a five percent carried
interest once commerciality has been determined.
    Noble Energy is one of the nation's leading independent energy companies
and operates throughout major basins in the United States including Colorado's
Wattenberg Field, the Mid-continent region of western Oklahoma and the Texas
Panhandle, the San Juan Basin in New Mexico, the Gulf Coast and the deepwater
Gulf of Mexico.  In addition, Noble Energy operates internationally in China,
Ecuador, the Mediterranean Sea (Israel), the North Sea (UK, the Netherlands,
and Norway), West Africa (Equatorial Guinea and Cameroon) and Suriname.  Visit
Noble Energy online at
    This news release may include projections and other "forward-looking
statements" within the meaning of the federal securities laws.  Any such
projections or statements reflect Noble Energy's current views about future
events and financial performance.  No assurances can be given that such events
or performance will occur as projected, and actual results may differ
materially from those projected.  Important factors that could cause the
actual results to differ materially from those projected include, without
limitation, the possibility that the proposed sale will not be consummated,
the volatility in commodity prices for oil and gas, the presence or
recoverability of estimated reserves, the ability to replace reserves,
environmental risks, drilling and operating risks, exploration and development
risks, competition, government regulation or other action, the ability of
management to execute its plans to meet its goals and other risks inherent in
Noble Energy's business that are detailed in its Securities and Exchange
Commission filings. Investors are urged to consider closely the disclosures
and risk factors in our Forms 10-K and 10-Q, File No. 1-07964, available from
Noble Energy's offices or website,  These forms
can also be obtained from the SEC by calling 1-800-SEC-0330.

For further information:

For further information: David Larson, +1-281-872-3125,, or Brad Whitmarsh, +1-281-872-3187,, both of Noble Energy, Inc. Web Site:

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890