Probe has commenced production from the Company's recent gas discovery at South Timbalier 214 ("ST 214") in the U.S. Gulf of Mexico. The ST 214 A-6 ST 1 well was drilled from a Company owned and operated production platform in the adjacent block. The well will be cleaned up and the production rate will be ramped up over the next two weeks to its ultimate sustained production rate. The company holds a 100% working interest ("WI") and a 70% net revenue interest ("NRI") in the well.
Earlier this month, Probe announced that commercial gas reserves have been discovered in the Probe-operated South Timbalier 214 A-6 Sidetrack #1 well located in the U.S. Gulf of Mexico. The well reached total contract depth of 15,825 feet Measured Depth and 14,751 feet True Vertical Depth. The company encountered its primary objective in the Buliminella 1 formation, logging 88 feet of TVD net pay which exceeded the Probe's expectations. The anticipated gross production rate from this formation is 25 - 35 MMcfd based on similar well performance in the area. Probe holds a 100% working interest and a 70% net revenue interest in the well.
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