The well, which had hydrocarbon shows and found high-quality Tertiary-age carbonate reservoirs, did not encounter an accumulation of hydrocarbons.
Located in a water depth of 1,220ft, the well was drilled to a total depth of 10,415ft.
Following completion of permanent plugging and abandonment operations at the Paraiso-1 location, the drilling rig will be released.
Noble Energy is operator of the well with a 70% working interest, subject to final government approvals for the assignment of the remaining interest to other parties.
Noble Energy exploration and geosciences vice president Mike Putnam said, "Paraiso-1 was the first deepwater well drilled offshore Nicaragua and tested a new frontier exploration concept for this region."
The company has core operations onshore in the US, primarily in the DJ basin and Marcellus shale, in the deepwater Gulf of Mexico, offshore Eastern Mediterranean, and offshore West Africa.
