Seeking Alpha

Noble Energy will abandon well off Nicaragua after disappointment

  • Noble Energy (NBL -0.2%) says a deepwater exploration well offshore Nicaragua did not find an accumulation of oil or other hydrocarbons, and NBL will plug and abandon the operations.
  • The Paraiso-1 was NBL's first deepwater well drilled in offshore Nicaragua and tested a new frontier exploration concept for this region.
  • NBL also says total company exploration expenses for Q4 are expected in the $225M-$265M range.
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