NBL Noble Energy Inc

By Alex MacDonald

LONDON--Falkland Oil & Gas Ltd. (FOGL.LN) said Monday that drilling started at the Humpback exploration well off the coast of the Falkland Islands on Saturday.

The well is located on licence PL012 in which Falkland Oil and Gas has a 52.5% working interest. The Humpback prospect is located within a cluster of similar prospects in the Fitzroy sub-basin, which have a total combined prospective resource of over 1 billion barrels of oil.

The well will test multiple stacked reservoirs within the Cretaceous Diomedea fan complex at a total depth of up to 5,350 metres.

The well is forecast to take about 65 days to drill. Falkland Oil & Gas is partially carried through in terms of costs by Noble Energy Inc. (NBL), the license operator, and is only responsible for 27.5% of the costs.

-Write to Alex MacDonald at alex.macdonald@wsj.com

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