Byron Energy Starts Drilling Well in US Gulf
Australian company Byron Energy Ltd. has begun drilling of the Bivouac Peak East’s first well, the Weiss-Adler et al No. 1 (WA #1), involved companies announced Aug. 27.
The Bivouac Peak Prospect leases are located in the Louisiana transition zone (onshore/marshland area along the southern Louisiana Gulf Coast) and within Byron’s shallow water projects in the Outer Continental Shelf.
The WA #1 will be drilled to a target depth of 18,000 feet True Vertical Depth (TVD) and is expected to take 75 days to reach total depth. WA#1 is a test well and is targeting a 32.2 million barrels of oil equivalent.
If the WA #1 well is successful, completion and development costs to first production are estimated to be between $9-$11 million. If the well is productive, it’s estimated that production will begin within eight to 10 months following drilling of the initial test well.
The breakdown of working interest in the well is as follows:
- Byron – 43%
- Otto Energy Ltd. – 40%
- Metgasco – 10%
- NOLA Oil & Gas – 7%
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- Byron Energy Starts Drilling Well in US Gulf (Aug 27)
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