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|
|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.