Offshore staff

HOUSTON– EnVen Energy Corp. has started drilling the King Crab well from the Lobster platform on Ewing Bank block 873 in the Gulf of Mexico.

The King Crab well targets an oil-focused reservoir about 14,000 ft (4,267 m) subsea with seismic amplitudes consistent with and comparable in size and thickness to existing producingLobster zones (Bul 1 and Cris S). They have produced about 150 MMbbl of oil to date.

The company expects results from this well in 1Q 2019. This well is being drilled from the Lobster platform enabling initial production within days following completion operations, if successful.

EnVen is the operator of this well and owns a 100% working interest.

In addition, theTransocean Pontus drillship is expected to mobilize in early December to Green Canyon block 248 in EnVen’s Glider field to execute its GL-5 side track project.

The GL-5 project targets the same oil reservoir (J Sand) that went offline in the existing wellbore in early 2015 due to mechanical failure. Prior to that failure, the GL-5 well was producing about 5,000 b/d. Results from the side track are expected in 1Q 2019. The company expects initial production within days following completion operations, if successful.

EnVen is the operator of this well and owns a 100% working interest.

11/29/2018