Noble Energy (NBL) rises 1.4% after announcing it has made a "significant natural gas discovery" in a well off the coast of Cyprus. Noble has a 70% stake in the well.Noble Energy (NBL)confirmed it has made a ”significant” natural gas discovery offshore the Republic of Cyprus.
The discovery well was drilled to a depth of 19,225 feet in water depth of about 5,540 feet. The Houston-based exploration and production company said it struck about 310 feet of natural gas pay, with gross resources estimated at between 5 trillion and 8 trillion cubic feet, with a mean figure of 7 Tcf.
The discovery well was drilled to a depth of 19,225 feet in water depth of about 5,540 feet. The Houston-based exploration and production company said it struck about 310 feet of natural gas pay, with gross resources estimated at between 5 trillion and 8 trillion cubic feet, with a mean figure of 7 Tcf.
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