High-Pressure In Leviathan Basin Cuts Into Potential Israeli Profits

Drilling at Noble Energy’s Leviathan-1 well has been stopped after the Homer Ferrington rig hit a high-pressure zone before reaching its target depth.

Noble Energy said the probe off Israel found gas shows at about 21,000 feet, but stopped drilling past 21,400 feet after encountering higher pressure.

The company will rework its drilling plan and pursue a rig prepared to tackle the higher pressure levels, Noble Energy said.

“Although the well did not reach the planned objective, we are encouraged by the possibility of an active thermogenic petroleum system at greater depths within this basin,” Susan Cunningham, a senior vice president at Noble Energy, said in a statement.

“We will integrate the data from the Leviathan deep well into our model to update…