Noble Energy said it will permanently plug and abandon operations at the Paraiso-1 exploration well, located in the Tyra Bank concession area offshore Nicaragua, after it failed to encounter an accumulation of hydrocarbons.

Located in a water depth of 372 m (1,220 ft), the well was drilled to a total depth of 3,174 m (10,415 ft). The well had hydrocarbon shows and found high-quality Tertiary-age carbonate reservoirs, according to a news release.

“Paraiso-1 was the first deepwater well drilled offshore Nicaragua and tested a new frontier exploration concept for this region,” Mike Putnam, Noble’s vice president, exploration and geoscience, said in the release. “The information gathered from this well will be integrated into our regional geologic model to help us assess the remaining exploration potential over our nearly 2 million acre position offshore Nicaragua.”

Following completion of permanent plugging and abandonment operations at the Paraiso-1 location, the drilling rig will be released. Noble Energy is operator of the well with a 70% working interest, subject to final government approvals for the assignment of the remaining interest to other parties.