Cobalt hits jackpot with North Platte probe

Winning result: Cobalt International and Total strike it lucky in Gulf deep

US explorer Cobalt International and France's Total have reported a large-scale oil discovery with their latest exploration probe in the deep-water US Gulf of Mexico.

The North Platte 1 well was drilled to a total depth of around 34,500 feet in water depths of around 4400 feet at Garden Banks Block 959.

The probe encountered several hundred feet of net oil pay in Lower Tertiary sands including several high-quality intervals, partners Cobalt International and Total said.

Cobalt International chief executive James Farnsworth said the discovery was "an important reminder that the Gulf of Mexico continues to hold prolific hydrocarbon potential”.

Farnsworth added that preliminary analysis of well and wireline data had matched pre-drill estimates for net pay at the…

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