HOUSTON --Mariner Energy has hit pay with its first of two planned wells on the Magellan prospect in East Breaks block 424 in the Gulf of Mexico.
The EB 424 well No. 1, drilled to 12,232 ft (3,728 m) TMD, encountered 42 ft (13 m) of net gas pay and two non-commercial zones with marginal gas pays, according to Mariner.
Based on well results, the company has lowered its estimate of unrisked reserve potential for the prospect from 100-200 bcfe of gas to 50-100 bcfe.
Drilling is underway on an appraisal well, with results expected in early third quarter. One partner in the first well has opted out of participation in the second well, and Mariner has increased its working interest in the project to 85%.