Noble Energy Inc. (NYSE: NBL) acquired a 75% interest and operatorship of the PL001 license in the North Falkland Basin from Argos Resources Ltd., offshore South America, the company said April 13.

The license covers almost 285,000 gross acres and is northwest of the PL032 license, which includes the Sea Lion oil discovery. Edison International SpA (NYSE: EIX) obtained the remaining 25% interest in the PL001 license. Noble and Edison will provide a 5% royalty override from all hydrocarbon development to Argos.

The Rhea prospect is the initial target. It is a Cretaceous-aged stratigraphic trap with multiple reservoir targets. There are more than 250 MMbbl of oil in total, estimated gross mean unrisked resources, Noble added. The prospect is in about 457 m (1,500 ft) of water, and the well’s targeted total depth is 2,670 m (8,760 ft). Drilling is scheduled to begin in third-quarter 2015, with Noble’s second slot on the 2015 Falkland Islands drilling campaign.

The company’s Humpack prospect, its initial project in the Falklands, will begin being drilled in early May. It is in the South Falkland Basin, in the Fitzroy sub-basin. It is the first of multiple stacked fan prospects in the sub-basin. It is estimated to have more than 250 MMbbl of oil, in gross mean unrisked resources. The cluser of prospects in the sub-basin have more than 1 Bbbl of oil. Humpback is in about 1,271 m (4,170 ft) of water, and will be drilled to 5,349 m (17,550 ft) total depth. Noble’s interest in the South Falkland Basin is 35%.

According to Bloomberg, Argentina filed criminal charges April 9 at the general prosecutor’s office in Buenos Aires against Noble, Edison, Rockhopper Exploration Plc (LSE: RKH.L), Premier Oil Plc, (LSE: PMO.L) and Falkland Oil & Gas Ltd. (LSE: FOG.L), the Foreign Ministry said in a a separate statement. The energy companies are charged with carrying out exploration activity without the permission of Argentina’s Energy Secretariat, according to the statement.

Offshore