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Petroleum industry

Consolidated Natural Gas Company's Deepwater Discovery in the Gulf of Mexico

Strategic Insights

— 1 min read

Consolidated Natural Gas Company's exploration and production subsidiary, CNG Producing Company, announced a significant deepwater discovery in the Gulf of Mexico, offshore Louisiana. The discovery was made at the North Marlin Prospect, operated by Shell Deepwater Development, Inc., in 2,521 feet of water, approximately 135 miles southeast of New Orleans. The well has penetrated a pay zone in the Middle Miocene section at 11,500 feet, with a gross hydrocarbon-bearing interval of approximately 135 feet. This discovery marks CNG's third deepwater project, following successful projects Popeye and Neptune.

Key Takeaways:

  • The North Marlin Prospect is a deepwater discovery in the Gulf of Mexico, offshore Louisiana, operated by Shell Deepwater Development, Inc.
  • The well has penetrated a pay zone in the Middle Miocene section at 11,500 feet, with a gross hydrocarbon-bearing interval of approximately 135 feet.
  • The discovery marks CNG's third deepwater project, following successful projects Popeye and Neptune.
  • CNG holds a 35 percent working interest in the field, with Shell Deepwater Development, Inc. as the operator.
  • Murphy Exploration and Production Company holds the remaining 30 percent interest in the field.
  • CNG is the third largest producer in the deep water, behind Shell Deepwater and BP Exploration Inc., based on a study by James K. Dodson, Offshore magazine, June 1998.
  • CNG Producing Company is one of the country's largest independent producers of oil and natural gas.
  • The company is responsible for all the exploration and development activities of Pittsburgh-based Consolidated Natural Gas Company (NYSE: CNG).

Statistics:

  • The well has reached a depth of 11,500 feet, with a gross hydrocarbon-bearing interval of approximately 135 feet, in 2,521 feet of water.
  • CNG holds a 35 percent working interest in the North Marlin Prospect, with Shell Deepwater Development, Inc. as the operator.
  • Murphy Exploration and Production Company holds the remaining 30 percent interest in the field.
  • CNG is the third largest producer in the deep water, behind Shell Deepwater and BP Exploration Inc.

Sources:

  • "CNG Producing Company Announces Deepwater Discovery," PRNewswire, November 9.
  • Shell Deepwater Development, Inc.
  • Offshore magazine, June 1998
  • Consolidated Natural Gas Company
  • CNG Producing Company

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