Hess Announces Ghana Drilling Results
Hess Corporation (NYSE: HES) announced today it has completed drilling of its seventh consecutive successful exploratory well on the Deepwater Tano/Cape Three Points block offshore Ghana. The Pecan North-1 well, located approximately seven miles northeast of the Pecan-1 well, encountered approximately 40 feet of net oil pay in Turonian aged reservoir.
The results of the seven wells are as follows:
| Well Name | Net Feet of Pay | Hydrocarbon Type | Water Depth | ||||
| Paradise-1 | 415 | Oil and gas condensate | 6,040 feet | ||||
| Hickory North-1 | 98 | Gas condensate | 6,455 feet | ||||
| Beech-1 | 146 | Oil | 5,623 feet | ||||
| Almond-1 | 53 | Oil | 7,251 feet | ||||
| Pecan-1 | 245 | Oil | 8,245 feet | ||||
| Cob-1 | 31 | Oil | 6,330 feet | ||||
| Pecan North-1 | 40 | Oil | 7,411 feet |
The wells were drilled by the Stena Drillmax drillship in a range of water depths between 5,623 and 8,245 feet. Hess achieved outstanding drilling performance in terms of drilling time and cost per foot with gross costs averaging $40 million per well for the last three wells, including success case logging.
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