Friday, April 08, 2011
Petsec Energy Ltd.
Petsec advised that the Marathon #2 well has been spud in the shallow waters of the Atchafalaya Bay along the Louisiana Gulf Coast, USA. Phoenix Exploration is the operator and the well has spud on 5th April using the Parker 54B drilling rig.The second Marathon well is a follow up to the successful #1 well which was brought into production in late 2010 and is consistently producing at rates of over 20 million cubic feet of gas and 120 barrels of condensate per day.
The 21,000 feet (6,500 meters) Marathon #2 well is situated in approximately 8 feet (2.4 meters) water depth and is located approximately 900 meters from the #1 well location. The #2 well is designed to serve as a development well for the field as well as to test deeper exploratory reserve potential on the Marathon structure. Drilling operations are expected to take 121 days to reach total depth, log and case. Petsec's estimated net cost to drill, log and case is US $1.3 million.
- Participating working interests in the well are:
- Petsec Energy Ltd 8%
- Phoenix Exploration Company LP (operator) 65%
- Private Companies 27%
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