McMoRan's Latest Efforts at Davy Jones Site Meet 'Limited Success'

McMoRan Exploration Co. said its latest drilling efforts in the Davy Jones prospect in the Gulf of Mexico met with "limited success."

Earlier this month, McMoRan said it would attempt to use a propellant stimulation gun after prior efforts failed to remove a component of drilling mud that was thought to be restricting flow from the well.

The company, which focuses on drilling for natural gas and operates some of the deepest wells in the world, on Thursday said it is starting operations to reperforate the well with electric wireline through-tubing guns.

McMoRan has been focused on Davy Jones, which the company has said has the potential to be one of the largest wells on the Gulf's shelf in decades. However, the company's efforts in the 20,000-acre, ultradeep reservoir in the shallow waters of the Gulf of Mexico--currently in progress on South Marsh Island Block 230--have been challenged by a series of technical difficulties this year.

McMoRan is the operator of Davy Jones and holds a 63% working interest and a 50% net-revenue interest in it.

Copyright (c) 2012 Dow Jones & Company, Inc.


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iknow | Jan. 1, 2013
This is a hail Mary play. Even if they think the have mud damage that they can not treat chemically, the best way to restore perm is with underbalance surging. I am guessing that that is either mechanically difficult and/or uneconomic. Prop stim will fail. If the reservoir is there, they will redrill. If not, they will try and divert attention.

M. E. Lynch | Dec. 29, 2012
Plug it.

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