Abstract

Devon's exposure to the Gulf of Mexico began in 1999 with the acquisition of PennzEnergy. The company drilled a limited number of exploration tests; mostly amplitude-supported stratigraphic traps with limited success. In 2002, a strategic decision was made to emphasize impact exploration in the deepwater Gulf of Mexico (GOM). This decison resulted in participating in the Cascade Prospect, a large salt cored 4-way structure, with a primary objective in the Miocene.

Initially encountering wet Miocene sands, Cascade was drilled deeper and established a significant hydrocarbon column in the lower Tertiary Eocene and Paleocene section. In order to capitalize on this trend-opening discovery, a joint venture was entered into allowing access to additional acreage and opportunities.

Results of this strategy to date include interest in 4 Lower Tertiary discoveries. Public data released suggests the emerging lower Tertiary trend extends from Alaminos Canyon through Walker Ridge and provenance studies indicate multiple source points for sediment input.