3TEC Energy Makes Discovery on Breton Sound Prospect
|Tuesday, January 28, 2003
3TEC Energy Corporation's latest exploratory drilling success is located in the state waters of South Louisiana in Breton Sound Block 33. The well, the S/L 17385 #1, tested 10.3 Mmcf and 458 Bbls of condensate per day on a 14/64 inch choke with a flowing tubing pressure of 8,171 pounds per square inch gas (psig) and a shut-in tubing pressure of 8,788 psig. The S/L 17385 #1 will be produced from the Tex W formation at approximately 12,330' and is currently being connected to production facilities. The Company anticipates the S/L 17385 #1, in which 3TEC holds a 50% working interest, will begin production in late February. This well represents the fifth successful prospect drilled by the Company in its South Louisiana program over the last 12 months. 3TEC's previously announced 2003 $63 million capital plan projects the drilling of 10 exploratory tests during the year. The Company will spud its next prospect in Main Pass Block 31 later this week.