McMoRan completes 3rd Flatrock well

McMoRan Exploration has successfully drilled its third well at the Flatrock field.

Offshore staff

NEW ORLEANS -- McMoRan Exploration has successfully drilled its third well at the Flatrock field. The Flatrock No. 3 is on OCS 310 at South Marsh Island block 212.

The well was drilled to 15,500 ft (4,724 m) and wireline logs indicated one hydrocarbon bearing sand in the Rob-L section. The well will be deepened to a proposed TD of 18,800 ft (5,730 m) to evaluate additional targets in the Rob-L and Operc sections.

McMoRan also announced today that production has been established from two wells on OCS 310/Louisiana State Lease 340, including the Flatrock No. 1 ("A" location) discovery well at South Marsh Island block 212 and the Hurricane Deep discovery well at South Marsh Island block 217.

Both wells were brought online using the existing Tiger Shoal production facilities.

The Flatrock No. 1 well began production on January 28, 2008, and is producing at a rate of approximately 24 MMcf/d of gas and 480 b/d of condensate with flowing tubing pressure of 12,200 psi (0.6 MPa). Initial production was established in the 17,200 ft Operc interval. The well is being ramped up with anticipated initial gross rates of 40-50 MMcfe/d.

The Hurricane Deep discovery began production on January 24, 2008, and is producing a gross of 13 MMcfe/d.

02/04/2008

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