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Nexen Inc. (NXY) Reports Successful Well in the Gulf Of Mexico

Nexen Inc. reported a successful deepwater well in the eastern Gulf of Mexico, located at the Appomattox prospect, in Mississippi Canyon blocks 391 and 392.

The well was drilled in approximately 7,200 feet of water, to a depth of 25,000 feet, and hit 425 feet of net oil pay. The company drilled two sidetrack wells to appraise the discovery and reported net oil pay at those two wells also.

Marvin Romanow, the CEO of Nexen Inc., said, “The Appomattox discovery confirms our confidence in the play and provides a strong basis to evaluate the remainder of our significant acreage position in the Eastern Gulf of Mexico. We are looking forward to additional drilling at Appomattox to confirm the estimate of total resource and move the discoveries towards development.”

Nexen Inc. has a 20% working interest in the Appomattox well, with Shell Offshore Inc. as the operator of the well and holding an 80% working interest. Nexen Inc. is a Canadian energy company that focuses on unconventional resources in Western Canada, and conventional oil and gas plays in West Africa, the North Sea and the Gulf of Mexico.

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