Bayou Bend Petroleum has made a gas/condensate discovery on its first well in the Marsh Island project. The Greylock Prospect well was drilled to a total depth of 10,500 feet and encountered 18 feet of Miocene Tex L "C" gas bearing sand with an average porosity of 29%. This well is currently being completed as a producing well and the forward plan is to lay a 3.5 mile flowline to a production facility which was acquired in the Summit Energy transaction. This facility has the capability of handling 40 MMcfgpd and is tied into the existing regional pipeline infrastructure. Estimated time to put the Greylock well on production is 90 days.
Clint Coldren, President and CEO of Bayou Bend, stated, "We are very pleased to have made a discovery with our initial well in our Marsh Island Portfolio and are looking forward to its first production. We are currently securing rigs to allow us to move into an aggressive drilling campaign starting in the latter part of the second quarter to evaluate the significant upside potential of our portfolio."
Bayou Bend is an oil and gas exploration and production company with a focus in the Gulf of Mexico shallow water shelf area. They have lease interests in the State Waters of Louisiana near Marsh Island and own 100% interest in five Federal OCS blocks offshore Louisiana and Texas. They have planned an aggressive drilling program for 2007 including a minimum of 7 exploration wells.
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