East Cameron Block 184 is located 100 miles southwest of Iberia, Louisiana in approximately 90 feet of water. Two new wells were recently placed on production from a depth of approximately 11,500 feet at the aggregate rate of 36 million cubic feet of natural gas per day (MMcf/d) and 1,050 barrels of oil per day (Bopd). Magnum Hunter owns a 30% working interest in the two wells and three leases which include Blocks 179, 184, and 185. Remington Oil and Gas Corporation (Nasdaq: ROIL; PCX: REM.P) is operator with a 57.5% working interest and Wiser Oil Co. (NYSE: WZR) owns the remaining 12.5%.
South Timbalier block 274 is located 90 miles south of New Orleans, Louisiana in approximately 260 feet of water. A new well was recently placed on production from a depth of approximately 12,500 feet at the rate of 10 MMcf/d and 1,056 Bopd. Magnum Hunter has a 10% working interest in the well. Spinnaker Exploration Company is operator with a 90% working interest. The drilling rig was recently skidded on the platform and is now drilling a new exploration well onto South Timbalier Block 275 where Magnum Hunter and Spinnaker each have a 50% working interest.
Eugene Island Block 397 is located 140 miles South of Iberia, Louisiana in approximately 470 feet of water. The A-1 well was completed flowing 1,000 Bopd and 444 thousand cubic feet of gas per day. The A-2 well is in the process of completion. There are plans to drill up to five additional wells from the 12 slot platform during 2002. Magnum Hunter has a 12.5% working interest in Eugene Island Block 397. W & T Offshore is operator with a 50% working interest. Remington Oil & Gas Corporation owns the remaining 37.5% working interest.
Magnum Hunter, as operator and with a 50% working interest, is in the process of plugging its recently drilled Main Pass Block 232 #1 well after drilling to a total depth of 11,600 feet. Remington Oil & Gas Corporation owns the remaining 50% working interest in this well.
Most Popular Articles