Spinnaker Exploration reports that drilling operations have been temporarily halted on
the #2 appraisal well drilled at the Thunder Hawk discovery in Mississippi
Canyon Block 734 due to severe loop currents in the area. Prior to the
drilling interruption, the exploratory well being drilled to test the far
western extent of the discovery at Thunder Hawk encountered over 500 feet true
vertical thickness of pay in two high-quality sands. The well is being
drilled in 5,716 feet of water by the Transocean Marianas and has reached a total measured depth of
23,765 feet. Plans are to continue drilling to a total measured depth of
28,216 feet once operations resume.
Spinnaker owns a 25% working interest in Mississippi Canyon Block 734.
Murphy Oil Corporation owns a 37.5% working interest and serves as
operator. Dominion Exploration & Production has a 25% interest and Pioneer Natural Resources has a 12.5% interest.
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