The company encountered oil pay during drilling of Phobos-1 well, which intersected about 250 net feet of high-quality oil pay in Lower Tertiary-aged reservoirs.

The well was drilled to a total depth of 28,675ft in about 8,500ft of water in the Sigsbee Escarpment block 39.

The company is currently collecting data from the Phobos-1 well to determine future activities.

Anadarko Petroleum International and Deepwater Exploration senior vice president Bob Daniels said the Phobos discovery marks the company’s third deepwater success.

"Phobos is our first well in the previously untested Sigsbee Escarpment area of the Gulf of Mexico and successfully tested a significant four-way structure in the Lower Tertiary," Daniels added.

"Phobos’ close proximity to our Lucius project is expected to further enhance the economics of this potential future development."

Anadarko is the operator of the Phobos well with 30% working interest, while Plains Exploration &
Production Company and Exxon Mobil each hold 50% and 20% interest, respectively.