Reply #18: Tiber is not the same as Deepwater - BP calls the leaking well Macondo

[csziggy]

Deepwater was the drill rig vessel that sank. Part of the confusion is that Deepwater Horizon drilled the first well into Tiber.

Partner says Tiber appraisal delayed

ConocoPhillips said appraisal of BP’s Tiber oil discovery in the Gulf of Mexico will be delayed by last month’s rig explosion at another BP prospect in the region.

News wires 12 May 2010 21:52 GMT

ConocoPhillips, which commented on possible effects of the spill today in a presentation at its annual shareholders’ meeting, did not say how long appraisal work at Tiber may be delayed. BP announced the “giant” Tiber oil discovery last year, saying it may hold more than 3 billion barrels of oil. BP is operator of Tiber. At the time the discovery was announced, the company said Houston-based ConocoPhillips held an 18% stake.

Robert Wine, a spokesman for London-based BP, told Bloomberg he was not able to comment on the schedule for appraising the discovery. BP is battling to stop leaks from its Macondo well that began after an April 20 explosion and fire aboard the Deepwater Horizon drilling rig. The blast killed 11 workers. Deepwater Horizon was the rig that drilled the Tiber discovery well, which rig owner Transocean claimed was the deepest well ever drilled.

Macondo is leaking an estimated 5000 barrels of oil per day into the Gulf of Mexico. At least two drilling rigs that could have been used for Tiber will be tied up drilling relief wells to stanch the flow of crude at Macondo, said Brian Uhlmer, an analyst at Pritchard Capital in Houston. The Deepwater Horizon sank on 22 April. The Tiber exploration well was the deepest on record. BP, which owns a 62% stake in the prospect, said in September that it planned more wells to assess the reservoir. The company planned to finish a second well there by 27 August, according to an exploration plan filed with the US Minerals Management Service.

Published: 12 May 2010 21:52 GMT | Last updated: 12 May 2010 21:52 GMT

http://www.upstreamonline.com/live/article214783.ece