Petsec Gears Up for GOM Drilling Program

Petsec Energy will conduct exploratory drilling on the Main Pass Block 20 No.4 well in the Gulf of Mexico using the Hercules 204 jackup. The well is expected to take up to 60 days to drill to a total depth of 13,205 feet (4,025 meters), and will be targeting natural gas and associated oil potential in Upper Miocene Bigenerina Humblei sandstone reservoirs that were previously proven productive in the Main Pass 20 No. 1 well drilled by Devon Energy in 2001. The objective section of the reservoir is characterized by a lens-shaped, high amplitude seismic anomaly of up to 492 feet (150 meters) in thickness that was identified from reprocessed 3D seismic data. This is the first well in Petsec Energy's 2010 drilling program in the GOM, and the first well drilled by the company in almost two years. The Main Pass Block 20 No.4 well is located on lease number OCS-G 27195 in roughly 36 feet (11 meters) of water.


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