Meridian Resource Logs Gas Pay on Its Bayou Chene Discovery

Meridian Resource Corporation

The Meridian Resource Corporation reported initial production test results on its Avoca 5-2 well on its Bayou Chene prospect. The Avoca 5-2 well was drilled to 12,128 feet measured depth ("MD") and logged a gross sand interval between 11,365 feet and 11,758 feet (37 feet net) reflecting two separate and distinct sands with apparent gas pay in the Big Hum 2 (AA) sand section. The well was tested through only five feet of perforations in the lower sand section between 11,710 feet and 11,715 feet MD at a stabilized gross daily flow rate of approximately 2.3 million cubic feet of gas ("Mmcf") with no accompanying water production. Flowing tubing pressure was measured at 3,010 pounds per square inch ("psi") through a 11/64ths-inch choke and shut in tubing pressure was measured at 3,867 psi. Production from behind pipe reserves in the upper sand section between 11,367 feet and 11,407 feet may be added after state approval or after depletion of the lower sand section. Production from the well will require construction of a pipeline and production facility tie-ins, which the Company expects to have completed during early third quarter 2005. The Company owns a 92% working interest in the well.

This is the first of several prospect leads identified by the Company in it Ramos Complex for its drilling program during calendar years 2005 and 2006. The drilling rig utilized to drill the Bayou Chene well has been moved to an adjacent location to drill the Company's Bayou Chene N.W. prospect, Avoca 6-1 well. The well will be drilled to a total measured depth of approximately 11,300 feet MD to test similar amplitude anomalies in the Big Hum 2 (AA) sand sections.

Meridian continues to focus its exploration and exploitation of several project areas including the Ramos Complex and BML in addition to its other properties which comprise an asset base consisting of approximately 300,000 acres and 8,000 square miles of 3-D seismic data.


Most Popular Articles