document: In early July 2020, Chevron USA acquired deep operating rights in the Hoffe Park discovery, which encompasses contiguous Mississippi Canyon blocks MC 122, MC 165 and MC 166, from Murphy Exploration & Production. The Hoffe Park discovery is located in the Middle Miocene and has a gross resource potential of between 75-120 MMboe, according to figures from June 2019. Murphy encountered oil in multiple zones in appraisal well G34424 1 (Hoffe Park 2), the first Hoffe Park appraisal well drilled during July 2019. Murphy had previously indicated in January 2019 that Hoffe Park, at that time, had a net mean resource potential of 30 MMboe and a net resource upside potential of 48 MMboe. On 27 December 2016, TD was reached in Hoffe Park discovery well G35318 1, which had a bottom-hole location in neighbouring block MC 166 (surface location in MC 122). The Hoffe Park discovery well was described by Murphy CEO Roger Jenkins at the time as âone of the fastest wells Iâve ever seenâ. Following this designation, Murphy E&P remains the operator of MC 122, MC 165 and MC 166 between the surface and 6,248m (20,500 ft). Chevron USA operates all three blocks between 6,248m (20,500 ft) and 30,480m (99,999 ft). Equity in all three blocks at all depths is split between Murphy Exploration & Production â USA (60% WI + Op) and Ridgewood Hoffe Park (40%).
summary: United States (GOM B.), Mississippi Canyon blocks MC 122, MC 165 and MC 166, Chevron USA acquired deep operating rights in the Hoffe Park discovery from Murphy Exploration & Production. The Hoffe Park discovery is located in the Middle Miocene and has a gross resource potential of between 75-120 MMboe, according to figures from June 2019.