Equinor announced on Monday a crude oil discovery in its operated Monument exploration well, in the central U.S. Gulf of Mexico, Kallanish Energy reports.

The company, along with its co-venturers Progress Resources and Repsol, found roughly 60 meters (200 feet) of net oil pay with “good” characteristics. Further appraisal drilling is needed to determine the full potential of the discovery.

“We are pleased to have proved an accumulation of movable hydrocarbons in the Monument exploration well,” said Bjørn Inge Braathen, Equinor’s senior VP of Exploration in North America.

Monument is Equinor’s first operated exploration well in the region since 2015. Progress Resources owns a 30% stake in the well and Repsol a 20% share.

This post appeared first on Kallanish Energy News.