Meridian Turns on Taps at Weeks Bay No. 15 Well in Iberia Parish

The Meridian Resource Corporation announced that the Weeks Bay No. 15 well was recently placed on production. This well, located in Iberia Parish in the Weeks Island field, was sidetracked and drilled to approximately 8,900 feet measured depth and logged approximately 43 feet of overall prospective oil pay in the Miocene sand section.

The well was put online last week and has produced at an average rate of approximately 330 barrels of oil per day and 120 Mcf of gas. Flowing tubing pressure was measured at approximately 1,200 psi through a 11/64th inch choke.

Meridian owns approximately 92% working interest (80% net) in the Weeks Bay well.

Currently, the overall average daily production for the Company ranges between 37 and 39 Mmcfe per day.