Carrizo Oil & Gas Announce Results of their South Louisiana Well
Carrizo Oil & Gas
|Tuesday, August 21, 2001
Carrizo Oil & Gas, Inc. announced that the recently drilled "Louisiana Delta Farms #1" (LaRose Prospect) well in Lafourche Parish, Louisiana, tested at a gross rate of 11,650 Mcf of gas and 1,466 barrels of condensate, i.e. 20,446 Mcfe, per day on a 16/64 inch choke with flowing tubing pressure of approximately 9,740 pounds per square inch from approximately 18 net feet of pay from the deepest sand interval in the well. The well was drilled to a total depth of approximately 15,300 feet and logged over 100 net feet of apparent pay in three intervals at depths ranging from 13,500 feet to 15,300 feet. Carrizo is the operator of the well and owns a 40 percent working interest in the well, subject to ultimate determination of ownership at unitization hearings. The Company is currently installing production facilities, and depending on the timing of unitization hearings, expects the well to commence production in approximately 60 days at an anticipated initial gross production rate of approximately 20,000 Mcfe per day. The Company currently holds approximately 1,150 gross acres of leases in the LaRose Prospect area and expects that additional follow-up drilling will be necessary to fully develop the prospect.