The Cronos-2 appraisal well confirmed the lateral extension of the Cronos-1 discovery from 2022 offshore Cyprus, TotalEnergies said on Feb. 15.
The Cronos-2 well, in Eni-operated deepwater Block 6, encountered several carbonate reservoir intervals with a net reservoir thickness of 115 meters. Eni and TotalEnergies each own a 50% interest in the block.
The production test confirmed an excellent gas deliverability of the well, TotalEnergies said.
“The successful appraisal of the Cronos gas discovery confirms the presence of significant resources and production potential in Block 6,” Julien Pouget, senior vice president for Middle East & North Africa exploration and production at TotalEnergies, said in a press release. “Full evaluation of the discovered resources will now be carried out to determine the best development option to contribute to supply gas to Europe and to the region.”
In addition to the Cronos-1 discovery in more than 2,200 m water depth in 2022, other Block 6 discoveries include Zeus-1 in 2022 and Calypso-1 in 2018.
Recommended Reading
As ONEOK Digests Magellan, Sets Stage for More NGL Growth in 2024
2024-02-28 - ONEOK is continuing the integration of its newly acquired Magellan assets in 2024 as the company keeps an eye out for M&A opportunities and awaits regulatory approvals for certain projects.
Dallas Fed Energy Survey: Permian Basin Breakeven Costs Moving Up
2024-03-28 - Breakeven costs in America’s hottest oil play continue to rise, but crude producers are still making money, according to the first-quarter Dallas Fed Energy Survey. The situation is more dire for natural gas producers.
EIA: E&P Dealmaking Activity Soars to $234 Billion in ‘23
2024-03-19 - Oil and gas E&Ps spent a collective $234 billion on corporate M&A and asset acquisitions in 2023, the most in more than a decade, the U.S. Energy Information Administration reported.
Exxon Shale Exec Details Plans for Pioneer’s Acreage, 4-mile Laterals
2024-05-03 - Exxon Mobil plans to drill longer, more capital efficient wells in the Midland Basin after a major boost from the $60 billion Pioneer Natural Resources acquisition. Data shows that Exxon is a leading operator drilling 4-mile laterals in the Permian’s Delaware Basin.
Ohio Oil, Appalachia Gas Plays Ripe for Consolidation
2024-04-09 - With buyers “starved” for top-tier natural gas assets, Appalachia could become a dealmaking hotspot in the coming years. Operators, analysts and investors are also closely watching what comes out of the ground in the Ohio Utica oil fairway.