Equinor and co-venturers Progress Resources USA Ltd and Repsol E&P USA Inc. have encountered oil in the Monument exploration well in the US Gulf of Mexico.

The Monument exploration well found approximately 60 metres of net oil pay with good reservoir characteristics in Paleogene sandstone.

This provides an early indication of the productive reservoir interval at the well location. The well was drilled to a total depth of 10,164 metres using the Pacific Khamsin rig.

Bjørn Inge Braathen, senior vice president of Exploration in North America said Equinor is pleased to have proved an accumulation of movable hydrocarbons in the Monument exploration well.

“However, determining the full potential of the discovery will require further appraisal drilling,” said.

The Monument exploration well is located in the central US Gulf of Mexico. It is operated by Equinor (50%) with partners Progress Resources USA Ltd (30%) and Repsol E&P USA Inc. (20%).

Monument is Equinor’s first operated exploration well in the US Gulf of Mexico since 2015.