The wireline log results indicated a total of 135 net feet of hydrocarbon bearing sands in four zones in the Wilcox section of the Eocene/Paleocene. All of the zones were full to base with two of the zones containing a combined 90 net feet.
The company said that the Eocene/Paleocene (Wilcox) suite of sands logged below 27,300ft appears to be of good quality. Flow testing will be required to confirm the ultimate hydrocarbon flow rates from the four separate zones. The resistivity log obtained on January 10 was the last data needed to confirm hydrocarbons in South Marsh Island Block 230.
McMoRan plans to deepen the well to 29,000ft to test additional objectives. McMoRan is one of the acreage holders on the shelf of the Gulf of Mexico and onshore in the Gulf coast area with rights to approximately one million gross acres including 150,000 gross acres associated with the ultra-deep gas play below the salt weld.
The prospects on this acreage have multi-Tcfe gross unrisked potentials and target objective sections on the shelf in the Miocene and older age sections that have been correlated to those productive sections seen in deepwater discoveries by other industry participants.
McMoRan operates the Davy Jones prospect and is funding 25.7% of the exploratory costs and holds a 32.7% working interest and 25.9% net revenue interest. Other working interests owners in Davy Jones include: Plains Exploration & Production (27.7%), Energy XXI (15.8%), Nippon Oil Exploration USA (12%), W.A. ‘Tex’ Moncrief, Jr. (8.8%) and a private investor (3%).
