Regent Energy Acquires Bayou Bouillon Gas Field
Regent Energy Corporation has closed the acquisition of leases in the Bayou Bouillon field from an undisclosed party. Bayou Bouillon is a gas field located in South Louisiana salt dome containing 4.6 Bcfe of proven reserves. Regent paid $50,000 for the Bayou Bouillon leases and assumed an additional obligation for delay rentals of $238,000.
"We have pursued this acquisition for several years and are glad to have acquired these proved reserves at $0.07 per barrel of oil equivalent," said John Ehrman, President of Regent. "This acquisition gives us an acreage position in the prolific salt dome areas of South Louisiana at advantageous pricing."
Bayou Bouillon is located in the Atchafalaya swamp in St. Martin and Iberville Parishes. The Bayou Bouillon salt dome was developed in the 1950's by Texaco and produced in excess of 153 Bcf gas and 32 million barrels of oil from the northern part of the dome. To the north of the dome is the Bayou DesGlaise salt dome which produced 52 Bcf and 14 million barrels of oil. To the east is the Bayou Bleu salt dome which produced 45.3 Bcf and 42 million barrels of oil. Directly to the south is the Lake Mongoulois salt dome which produced 72.3 Bcf and 20 million barrels of oil. On the west, Lake Larose Ridge salt dome produced 328 Bcf and 53 million barrels of oil.
In addition to the proved reserves, John Ehrman said, "Exploratory potential exists in the entire 26,000 acre prospect area along the mainly undeveloped south and southwest side of the dome. We will be evaluating this acreage for farm-outs or acquisition throughout 2002."