Noble Energy Announces Test Results From Benita Oil Appraisal in Equatorial Guinea

    HOUSTON, June 5 /CNW/ -- Noble Energy, Inc. (NYSE:   NBL) today announced
flow test results from the Benita oil appraisal well in Block "I" offshore
Equatorial Guinea.  As previously announced, the 'I-5' well encountered
approximately 42 feet (13 meters) of net oil pay, defined the water-oil
contact, and moved the lowest known oil down structure approximately 28 feet
(9 meters).  Test results from this high-quality Miocene reservoir yielded
flow rates of 6,250 barrels of oil per day and 5.4 million cubic feet per day
of natural gas, with production rates limited by test equipment. Based on test
information gathered, the Benita development wells are anticipated to produce
approximately 10 thousand barrels of oil per day. Samples taken indicated a
crude oil gravity of 30 degrees.
    Charles D. Davidson, Noble Energy's Chairman, President and CEO, said,
"We are very encouraged with the results from the Benita downdip oil
appraisal. Flow tests have confirmed our initial expectations that Benita
could produce at a rate of 50 thousand barrels of oil per day from just 5
wells.  We are moving forward with the engineering and production studies to
submit a plan of development by the end of the year, with hopes to sanction
the project in 2009.  Our target for first production from Benita remains
    The Sedco 700 deepwater rig is preparing to drill the Diega prospect, an
additional Miocene target approximately 5.5 miles north of Benita on Block
"I".  Diega, located in 2,165 feet (660 meters) of water with a proposed well
depth of 10,500 feet (3200 meters), has a gross resource potential of between
20 and 80 million barrels of oil equivalent.
    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 a leading independent energy company engaged in worldwide
oil and gas exploration and production. The Company operates primarily in the
Rocky Mountains, Mid-Continent, and deepwater Gulf of Mexico areas in the
United States, with key International operations offshore Israel, UK and West
Africa.  Noble Energy is listed on the New York Stock Exchange and is traded
under the ticker symbol 'NBL.'  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.  Risks, uncertainties and assumptions that
could cause actual results to differ materially from those projected include,
without limitation, the volatility in commodity prices for crude oil and
natural 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.  Words such as "anticipates,"
"believes," "expects,"  "intends," "will," "should", "may," and similar
expressions may be used to identify forward-looking statements.  Noble Energy
assumes no obligation and expressly disclaims any duty to update the
information contained herein except as required by law.
    For additional information - website

For further information:

For further information: David Larson, +1-281-872-3125,, or Brad Whitmarsh, +1-281-872-3187, 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