Harken Updates Gulf Coast Operations
HOUSTON, Jan 27, 2004 /PRNewswire-FirstCall via COMTEX/ -- Harken Energy Corporation (Amex: HEC) ("Harken") provided today an update on the operations of its oil and gas assets located in the onshore and offshore Gulf coast regions of Texas and Louisiana.
Lapeyrouse Field, Terrebonne Parish, Louisiana:
The Thomas Cenac #1, initially drilled in 2001, was placed on compression in the fourth quarter of 2003 and is now producing gross volumes of approximately 1,000,000 cubic feet per day. Harken holds a working interest of approximately 28% in this producing well.
During the fourth quarter of 2003, two exploitation wells were drilled in the Lapeyrouse field. The AM Dupont #2 was successfully drilled and completed, and is now producing at an initial gross rate of approximately 3,600,000 cubic feet per day with 50 barrels of condensate, no water, and a flowing tubing pressure of approximately 4,100 pounds per square inch ("psi"). The JC Dupont #2 well was also drilled and is currently undergoing completion. Harken holds a working interest of approximately 10% in each of these wells.
Raymondville Field, Willacy and Kenedy Counties, Texas:
During the fourth quarter of 2003, Harken's development well, the Yturria #3-26 was drilled to a depth of approximately 10,740 feet. The Yturria #3-26 well began production this month with an initial gross rate of approximately 2,100,000 cubic feet per day with a flowing tubing pressure of approximately 2,950 psi. Harken holds a working interest of approximately 27% in this new well. Over the past three years, Harken has participated in a drilling success rate at Raymondville of approximately 96%, successfully completing 27 of 28 wells at Raymondville since the fall of 1999.
Lake Raccourci Field, Lafourche Parish, Louisiana
The State Lease 1480 #2 was successfully recompleted this month and is now sustaining gross production of approximately 280 barrels of oil, and 265,000 cubic feet of gas per day, with a flowing tubing pressure of approximately 2,100 psi. The recompletion increased current production from this well by approximately 500% as compared to production immediately preceding the recompletion. Harken has an average working interest of approximately 40% in this well.
SOURCE Harken Energy Corporation
Investor Relations of Harken Energy Corporation,
+1-281-504-4000, or info@harkenenergy.com
harkenenergy.com
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