Marathon Announces Leda Discovery in Deepwater Angola Block 31
The Leda discovery well is located approximately 250 miles off the Angolan coast, and is about 7 miles southwest of the Marte field.
The well was drilled in about 6,800 feet of water, to a total depth of more than 19,300 feet. It is the fifth discovery in Block 31 where the exploration well has been drilled through salt to access the oil bearing sandstone reservoir beneath. The well test results confirmed the capacity of the reservoir to flow in excess of 5,000 barrels per day under production conditions.
The concessionaire of Block 31 is Sonangol, Angola's state-owned oil company. Marathon holds a 10 percent interest in Block 31. The operator is
Marathon is an integrated international energy company engaged in exploration and production; oil sands mining; integrated gas; and refining, marketing and transportation operations. Marathon has principal operations in the
This news release contains forward-looking statements concerning the possibility of a significant new resource base. These forward-looking statements may be affected by a number of factors or are based on a number of assumptions, including, among others, pricing, supply and demand for petroleum products, amount of capital available for exploration and development, regulatory constraints, timing of commencing production from new wells, drilling rig availability, unforeseen hazards such as weather conditions, presently known data concerning size and character of reservoirs, economic recoverability, future drilling success, production experience, acts of war or terrorist acts and the governmental or military response thereto, and other operating considerations. In accordance with "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995,
Media Relations Contacts:
Lee Warren 713-296-4103
Leslie Hiltabrand 713-296-4102
Investor Relations Contacts:
Howard Thill 713-296-4140
Michol Ecklund 713-296-3919
Chris Phillips 713-296-3213
SOURCE
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