Medco discovers gas in Gulf of Mexico block

JSX-listed energy firm PT Medco Energi Internasional Tbk (Medco) said Wednesday that its wholly owned subsidiary Medco Energi US LLC had discovered natural gas through its 758 #1 well at Mustang Island Block 758, Gulf of Mexico, offshore Texas.

Medco said that the well, which was drilled at a total depth of 9,200 feet, had encountered a 47 feet Total Vertical Thickness (TVT) of natural gas pay in four horizons in the Marg A series between 8200 feet and 8900 feet.

“A production casing was run and set at 9,155 feet and the well was mudline suspended pending further development activities,” Medco said.

According Medco, Medco US planned to install a braced caisson or minimal structure on the well in mid 2007.

Mustang Island Block 758 is a 5,760 acre in water depth of 154 feet. The block was acquired by Medco in May 2006. (denny)