Spinnaker updates GoM activity

May 6, 2002
Spinnaker Exploration's High Island 167 No. 2 well in the Mayflower field was to begin production at 15 MMcf/d of gas in early May.

Spinnaker Exploration's High Island 167 No. 2 well in the Mayflower field was to begin production at 15 MMcf/d of gas in early May. Spinnaker has 100% interest in the well.
One recompletion and one fault-block wildcat are underway in the Constellation field area in High Island 202 A-7. Operator Spinnaker has 75% in the field, with BP and other partners.
The Galveston 352 discovery in 80 ft water depth encountered two productive Tex-W sands. The well has been completed, and a caisson has been driven. First production is anticipated during 4Q 2002. Spinnaker holds 33% interest, and Westport holds 67%.
Production has begun from the South Timbalier 274 No. 1 well at 10 MMcf/d and 800 b/d of condensate. Spinnaker holds 90% interest in the well and platform, and Magnum Hunter holds 10%. A second well from the platform will test a separate feature in South Timbalier 275. Spinnaker operates that well with a 50% interest, and Magnum Hunter holds 50%.
The North Padre Island 861 Stirrup Unit discovery began production last month at a rate of 12.8 MMcf/d and 115 b/d of condensate. Operator Spinnaker is partners with Dominion and Pioneer.
The Grand Isle 52 well is now producing at a sustained rate of 2,800 b/d and six MMcf/d. A second well is drilling from the platform. Spinnaker owns 50% in the well and field, and BP holds 50%.
The Brazos A-19 No. 3 well in the Alex Deep field began production at 100 MMcf/d. Additional exploratory drilling on the block is being considered. Spinnaker owns 15% in the well and block, and Shell holds 85%.
Spinnaker plans new drilling on the Vermilion 375 field, which has been producing since 2000 from a single well that is dually completed. Operator Spinnaker holds 70% interest in the field.
Partners in Front Runner and Front Runner South in Green Canyon 338 and 339 have sanctioned development of the fields. The development plan features a truss Spar with a handling capacity of 60,000 b/d and 110 MMcf/d. Production will likely begin in the first half of 2004. The Green Canyon 338 No. 4 well encountered 790 ft of hydrocarbon-bearing sands in five main sequences. Spinnaker holds 25% in the field, and Murphy and Dominion each hold 37.5%.
At the Sangria project at Green Canyon 177, flowline and umbilical installation is complete from this subsea completion to the nearby host production platform. First production is expected by mid-year. The well is in 1,490 ft water depth, and Spinnaker holds 100% interest in the well.
Spinnaker and partners are evaluating development options for the Seventeen Hands discovery in Mississippi Canyon 299. Spinnaker holds 25% in the block, and Murphy and Dominion each hold 37.5%.
The Zia field in Mississippi Canyon 496 and 497 will likely begin production in 2003. Spinnaker holds 35% interest in the field, and Ocean Energy holds 65%.
Spinnaker temporarily abandoned the Mississippi Canyon 849 No. 1 well after drilling to a total depth of 16,227 ft in 3,400 ft water depth. The well encountered 140 ft of pay in five main sands. Spinnaker holds 34% in the well and block, and Samedan and Dominion each have 33%.