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Amerada Hess Corporation (NYSE: AHC) today announced that it has made an oil discovery on its Devils Island prospect located on Garden Banks Block 344 in the Gulf of Mexico. The discovery, made by the GB 344 No. 4 well, encountered more than 100 feet of net oil pay in a single, high quality reservoir. The well was drilled to a total depth of 24,525 feet in approximately 2,300 feet of water. The discovery is located 135 miles offshore Louisiana, 12 miles southwest of the Amerada Hess operated Baldpate Field (AHC 50%) and eight miles east of the Llano Field (AHC 27.50%).
Robert P. Strode, Senior Vice President of Amerada Hess in charge of exploration and production in the Americas, said: "We are very pleased with this discovery in our core Garden Banks area. There are several attractive development options available for this discovery. Further evaluation and appraisal will be necessary before the best development option can be selected."
Amerada Hess has an 80% working interest and is the operator of the Devils Island prospect. EEX Corporation owns the remaining 20% interest.
Contact: Amerada Hess Corporation.......C.T. Tursi (212) 536-8593