BHP Billiton reported finding oil in multiple horizons at the Caicos exploration well on Green Canyon Block 564, about 100 miles offshore Louisiana in the deepwater Gulf of Mexico. The company is the block’s sole interest owner. A further move to appraise the area is planned this month, with drilling to begin on the adjacent Wilding prospect. In March, BHP Billiton encountered hydrocarbons at the Shenzi North-ST3 well in the Green Canyon area, although results were not disclosed. “We continue to be optimistic around the opportunity for a commercial development in the area,” said Steve Pastor, BHP’s president of petroleum operations, at a London investor briefing.
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