Energy Partners Ltd. (EPL) has two new exploratory discoveries on the shelf of the Gulf of Mexico.
The State of Texas Brazos block 495-S No. 1 well is 4 mi off the Texas coast in 44 ft of water. The well was drilled to a true vertical depth of 7,500 ft. Hydrocarbons were encountered in a single sand interval with 24 ft of apparent net natural gas pay. EPL owns a 50% working interest in the well and is the operator. CMI, a wholly owned subsidiary of GlobalSantaFe Corp., owns a 10% working interest, Continental Resources Inc. owns a 25% working interest, and NCX Co. LLC owns a 10% working interest, with the balance of the interest owned by a privately held company. A caisson will be installed at the well, and plans are to lay a pipeline to a third-party platform on a neighboring block for processing and sales. First production is expected in 4Q 2003.
The South Timbalier block 185 No. C-2 well is in the central Gulf of Mexico 45 mi off the Louisiana coast in 184 ft of water. The well was drilled to a true vertical depth of 4,509 ft and encountered 24 ft of apparent net natural gas pay in the 4,300-ft sand objective. The well was drilled from EPL's existing South Timbalier block 185 C platform and, following minor facilities modifications, is expected to come onstream during 3Q 2003. EPL owns an 80% working interest in the well and is the operator. The remainder of the working interest in the well is held by privately-owned entities.
05/30/03
