Brazilian Petrobras announced a new oil strike at the southeast end of the Walker Ridge concession area, located in deep waters in the North American part of the Gulf of Mexico. The discovery confirms the potential of the Lower Tertiary formation in this area.
The Logan discovery lies some 400 km (250 miles) to the southeast of New Orleans, at a water depth of approximately 2,364 meters (7,750 feet).
The discovery was made by drilling well WR 969 #1 (Logan #1), in block WR 969. New exploratory activities will determine the recoverable volumes and commerciality of Logan.
Statoil is the operator with a 35% interest. Petrobras América Inc. holds 35%, while Ecopetrol America and OOGC have a 20% and a 10% interest, respectively.
