MedcoEnergi has also participated in a successful well operated by Red Willow Offshore. The West Delta 52 #1 well located in Louisiana State Lease 18383 encountered 17 feet of net natural gas pay in the Cris K2 sand. The discovery is located in Louisiana state waters approximately 75 miles southeast of New Orleans. Completion operations are currently underway and the operator plans to install a caisson and pipeline in order to flow the well to a nearby facility in West Delta 58. Initial production is expected in 3 – 4 months. MedcoEnergi holds a 54% working interest in the project.
Dave Gibbs, MEUS' president stated "These discoveries will add significant momentum to our Gulf of Mexico program. We are planning on an active drilling program in 2007. These new discoveries bring our total offshore inventory of producing properties and development projects to 7 active blocks. We anticipate additional drilling on these blocks as well as on other recently acquired leases."
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