With all the focus on the currently being drilled Loligo structure its easy to forget that Noble have no farm in on Loligo or Nimrod - their farm in excludes these - and Noble are very excited about the Scotia drill.
Noble Energy presented yesterday, 7th Sept (2012 Barclays CEO Energy-Power) and their CEO was quoted as being "very excited" by the potential of the Falklands.
Their full presentation is available to download on the below link.
http://www.nobleenergyinc.com/_filelib/FileCabinet/PDFs/Presentations/2012_09_September_books_FINAL.pdf
Page 39 as below link is for the Falklands. Note that "two 3D seismic surveys are scheduled for early 2013" !!!
Media coverage of Chuck's comments below :
http://www.bnamericas.com/news/oilandgas/noble-pegs-gross-unrisked-potential-at-12bboe
Noble pegs gross unrisked potential at 12Bboe
Falkland Islands | Oil & Gas
More Oil & Gas news
Published: Friday, September 7, 2012
By Abigail Wilkinson
Business News Americas
Noble Energy (NYSE: NBL) sees 12Bboe of gross unrisked resources on the Falklands Islands acreage it gained through a farm-in deal with Falkland Oil and Gas (AIM: FOGL).
"When we look at just our top 10 Cretaceous leads over this region, we see about 7Bb of gross unrisked resources," CEO Chuck Davidson said during a presentation at the 2012 Barclays CEO Energy-Power Conference.
Another 5Bboe of gross unrisked resources comes from other play types within the 10mn acres which Noble has access to under the deal, announced August.
Noble agreed to farm into FOGL's northern and southern area licenses for a 35% interest, excluding the Loligo and Nimrod-Garrodia areas, with Noble committed to spend between US$180mn and US$230mn over the next three years.
The first prospect to be drilled under the deal, named Scotia, will be drilled in the fourth quarter and has around a 20% geologic chance of success and is estimated to hold 900Mb gross unrisked mean resources, according to the presentation.
"What really gets us excited is that it is scale, and it is multiple opportunities," Davidson said of the farm-in acreage. "It's a little bit out of the normal neighborhood and we really believe it could open up a whole new basin."
The Falklands is one of the firm's three significant areas lined up for testing this year, with the other two prospects named as deepwater Gulf of Mexico and Cameroon, testing gross mean resources of about 1Bboe.