This project is being undertaken in conjunction with Louisiana Coastal Exploration.
The partnership has initially targeted potential reserves of approximately 450 billion cubic feet ("bcf") of gas in its initial exploration block. In this area, Shell discovered over 150 bcf of shallow reserves in the 50's and 60's. The partnership was the successful bidder on three lease blocks offered in the March Louisiana State Lease sale.
The three lease blocks, located offshore of Louisiana in the Gulf of Mexico, are comprised of 600 acres in East Cameron Block 4; 1,171 acres in East Cameron Block 18; and 688 acres in East Cameron Block 22. These three lease blocks, when included with the previously acquired 1,130 acres in East Cameron Block 17, give Louisiana Shelf Partners a total lease position of 3,590 acres.
The process of obtaining drilling permits is expected by month end and drilling contracts are now being reviewed. A target spud date of May 15 is now projected with an anticipated 40-day drill program.
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