UPDATE 1-BP says finds oil at test well in Gulf of Mexico

Related Topics

Mon Nov 16, 2009 10:57am EST

* Says test well in Kaskida field confirms oil

* Says well was drilled to total depth of 32,500 feet * Shares up 1.8 percent (Adds details)

Nov 16 (Reuters) - Oil major BP Plc (BP.L) on Monday said it found oil at its appraisal well in Kaskida field in the Gulf of Mexico.

The company said the well, drilled to a total depth of 32,500 feet, is located in Keathley Canyon block, 250 miles southwest of New Orleans.

Kaskida is operated by BP, with a 70 percent working interest, and co-owned by Devon Energy Corp (DVN.N), which has a 30 percent stake.

Earlier on Monday, Devon said it planned to sell its Gulf of Mexico and international assets and focus on its onshore fields in the United States and Canada. [ID:nN16505198]

BP shares were up 1.8 percent at 591.6 pence at 1554 GMT on the London Stock Exchange. (Reporting by Tresa Sherin Morera in Bangalore; Editing by Unnikrishnan Nair)

Related Quotes and News

Company
Price
Related News
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.