MESA Inc. announces results of #A-27 well completion
BusinessWire, Friday, May 02, 1997 at 18:53
IRVING, Texas--(BUSINESS WIRE)--MESA Inc. (NYSE:MXP) announced
today the results of the completion of the first of five wells
drilled this year from a platform located in East Cameron Block 322.
The #A-27 well is flowing at a rate of 2,100 barrels of oil per
day and 660 thousand cubic feet of gas per day at a flowing tubing
pressure of 350 psig. This well was drilled as an extended reach
well from the platform to a sand 4,170 feet deep located 8400 feet to
the east in the adjacent Block 323. This prospect was identified in
a previously undeveloped area by interpretation of 3-D seismic data
and has resulted in a one-half mile easterly extension of the field.
The well was completed with modern frac-pack technology to maximize
the productivity and economic value of the well. Another sand which
was penetrated in this well at depth of 4,080 feet was also completed
as an alternate with the frac-pack technique and can be brought on
production in the future without a rig when the current sand is
depleted.
The rig has been skidded, and completion operations are in
progress on the #A-25 well which will be completed as a dual well,
able to produce from two zones simultaneously. Three additional
wells remain to be completed after the A-25 well. MESA expects to
spend $20 million to drill and complete the five wells.
MESA owns 100% of these two blocks, located 95 miles off the
coast of Louisiana in 220 feet of water. Cumulative production from
this mature field from 1975 through 1996 totaled 6.4 million barrels
of condensate and oil and 17.9 billion cubic feet of gas. The five
new wells were successful in finding multiple pays ranging in depths
from 3600 feet to 5200 feet. The results of the remaining wells will
be announced as work is completed.
CONTACT: MESA Inc.
Research Analyst:
Deanna Miller, 972/402-7054
or
Investor:
Malcolm Gorrie, 972/402-7087
Bryan - How nice it would be to have MXP standing by itself.
Have a good weekend!
Steve |
