Freeport-McMoRan Inc. obtained positive drilling results from the Freeport-McMoRan Oil & Gas (FM O&G) 100%-owned Holstein Deep and Dorado development wells in the deepwater Gulf of Mexico (GoM). Production from these projects is expected to total about 30 Mboe/d in 2016, a press release said.

During fourth-quarter 2014, the Holstein Deep delineation well in the Green Canyon area reached a total depth of about 9,480 m (31,100 ft). Recent wireline logs and core data combined with previously reported interim results confirmed that the well encountered a total of about 71 net m (234 net ft) of Miocene oil pay with excellent reservoir characteristics and good correlation to the discovery well and previous confirmation sidetrack penetration.

Production from the planned three-well development program is expected to reach about 15 Mboe/d in 2016 and will be tied back to the existing Holstein production facility. Based on the results from the Holstein Deep delineation well, FM O&G has increased the net unrisked resource potential of the Holstein Deep Field to more than 250 MMboe from the previous estimate of about 140 MMboe.

The data also support the potential for additional development opportunities at Holstein Deep to achieve production of up to 75 Mboe/d by 2020.

The Holstein Deep development is located in Green Canyon Block 643, west of the Holstein platform in 1,186 m (3,890 ft) of water. FM O&G acquired the acreage associated with this development in a 2013 lease sale held by the Bureau of Ocean Energy Management.

FM O&G has identified multiple additional development opportunities in the Green Canyon area that could be tied back to the Holstein facility.

The company also reported positive drilling results at the 100%-owned Dorado development project, which commenced drilling in October 2014. In December 2014, the well reached a total depth of about 4,450 m (14,600 ft) and encountered about 75 net m (245 net ft) of Miocene pay with excellent reservoir characteristics and good correlation to offset productive wells. This well is the first of three planned subsea tieback wells to the Marlin facility targeting undrained fault blocks and updip resource potential south of the Marlin facility.

Production from the planned three-well Dorado development is expected to reach about 15 Mboe/d in 2016 and will be tied back to the existing Marlin production facility. The Dorado development is located on Viosca Knoll Block 915 in 1,177 m (3,860 ft) of water. FM O&G has a 100% working interest in Marlin.

Offshore