Medco strikes gas in US
Wednesday, May 2 2007 - 12:22 AM WIB
The company-operated Brazos 437 #1 well encountered an estimated 55 feet of net natural gas pay from multiple zones. The discovery is located in federal waters approximately 75 miles southwest of Galveston, Texas in 67 feet of water.
The company plans to install a caisson and pipeline in order to flow the well to a nearby facility in Brazos block 451. Initial production is expected in 90 - 120 days. MEUS holds a 60% working interest in this project.
The company also participated in the recently drilled Red Willow Offshore LLC, State Lease 18383 #1, West Delta 52. The well encountered 17 feet net natural gas pay. The discovery is located in Louisiana state waters approximately 75 miles southeast of New Orleans, Louisiana in 7 feet of water.
The well has been completed and tested at 2.4 MMSCFD, 24 BCPD. Initial production is expected in 90 - 120 days. MEUS holds a 54% working interest in this project.
Dave Gibbs, MEUS' President stated, "These discoveries will add significant momentum to our Gulf of Mexico program. We are planning on an active drilling program in 2007. These new discoveries bring our total offshore inventory of producing properties and development projects to 7 active blocks. We anticipate additional drilling on these blocks as well as on other recently acquired leases.? (alex)