Bayou Bend Adds Prospect to Bayou State Portfolio
Bayou Bend Petroleum Ltd. has entered into a Participation Agreement for oil and gas exploration rights on 2,899.9 acres, which includes the large LaPosada prospect, located in Iberia and Vermilion parishes, La. Bayou Bend will fund 25 percent of the costs of drilling the initial well on LaPosada to earn a 21.875 percent working interest in this first well and all future wells located on the associated acreage.
The LaPosada prospect is located in the Bayou Hebert Field and will be drilled and operated by Petroquest Energy. The prospect is a Lower Miocene deeper pool test with 200 BCF+ potential on a high relief fault closure that has produced over 100 BCF from shallower Middle and Lower Miocene sands. The initial well is expected to spud in July 2007.
The Bayou Hebert field is located 26 miles northwest of the Company's Marsh Island project located in Iberia Parish.
"Bayou Bend is rapidly building a portfolio of highly prospective projects and LaPosada complements well our existing inventory in the Marsh Island project area. We have a busy drilling program coming up in the summer with both LaPosada and Marsh Island wells scheduled and potentially others. We look forward to continuing our exploration success and building upon our first discovery at Marsh Island which is currently being tied into production," commented Clinton W. Coldren, President and Chief Executive Officer of Bayou Bend.
Bayou Bend is an oil and gas exploration and production company with a focus in the Gulf of Mexico shallow water shelf area. The Company has lease interests in the State Waters of Louisiana near Marsh Island and owns a 100% interest in several Federal OCS blocks offshore Louisiana and Texas. The Company has an aggressive drilling program planned for 2007.
- PetroQuest Brings Louisiana La Cantera Well Online (Mar 21)
- PetroQuest Cheers LA Gas Find (Aug 29)
- PetroQuest Cites Re-Determination of Borrowing Base (Sep 30)
Company: Bayou Bend Petroleum Ltd. more info
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