Statoil Makes Oil Discovery In Its Miocene Yeti Prospect In Gulf Of Mexico

(RTTNews) - Norwegian energy firm Statoil ASA (STO) announced that it has made an oil discovery in its Miocene Yeti prospect located in the Gulf of Mexico. Yeti was drilled with the Maersk Developer drilling rig, a sixth generation semi-submersible.

The company said the Yeti discovery was made in Walker Ridge or WR block 160, which is located approximately 15 km south of the Big Foot field, and 11 km from the Cascade field. All of the blocks making up Yeti were accessed by the current owners in recent years.

Statoil reports that its drilling efficiency with Yeti was among the best of any well drilled in Walker Ridge, achieving a drilling performance level of approximately 120 meters or 400 feet per day. The rig has moved on and is currently drilling Statoil's Thorvald prospect in the Mississippi Canyon block 814.