ERT makes double GoM discovery

An exploration well in Green Canyon block 490 in the Gulf of Mexico has hit oil and gas pay, according to Helix ESG subsidiary Energy Resource Technology GOM (ERT).

Offshore staff

HOUSTON -- An exploration well in Green Canyon block 490 in the Gulf of Mexico has hit oil and gas pay, according to Helix ESG subsidiary Energy Resource Technology GOM (ERT).

The Jake discovery, which was drilled to a total depth of 13,504 ft (4,116 m) in 3,740 ft (1,139 m) of water, encountered 134 ft (41 m) of net oil and gas pay in a single sand interval. The well was conventionally wireline logged with multiple fluid samples recovered for confirmation of the hydrocarbon bearing zone.

The well has been cased and temporarily abandoned for a future subsea completion. The company estimates that the prospect contains between 50 to 75 bcfe gross.

Development options are currently underway, including a potential joint development with a recent nearby discovery. First production from Jake is anticipated in mid 2011.

ERT has made an additional GoM discovery at its 75% owned and operated South Timbalier 145 field. The new discovery was drilled to a depth of 14,193 ft (4,326 m) true vertical depth and logged approximately 20 ft (6 m) of oil and gas pay. The well is currently being completed and is expected to begin production this month.

11/30/2009

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