Louisiana's Promising Future

Deep Shelf Play Drilling Onshore and Tuscaloosa Marine Shale Scores first 1,000+ boepd test!

Among Louisiana's promising new riches are an extension of the Ultra-Deep Shelf play moving onshore and the emerging Tuscaloosa Marine Shale play.  This docFinder alert updates you on the latest developments.

Slide above left, courtesy of McMoran Oil & Gas, shows the evolution of the sub-salt ultra-deep play moving onshore where McMoran has identified 30 Tcfe of gross potential! Shown is Chevron's Ultra-Deep test (Lineham Creek prospect) spud on December 31, 2011 and drilling ahead towards 29,000'.  McMoran is participating with a 36% WI -- a vote of confidence for the prospect given that McMoran is broadly recognized as the industry leader in this new exploration frontier.  In fact, through drilling, McMoran's has confirmed its geological model in 8 separate formations beneath the salt weld.  The Ultra-Deep Shelf trend potentially spans 200 miles in the shallow waters of the GOM AND onshore into Louisiana.  Findings-to-date include Davy Jones #1 (29,000'), Davy Jones #2 (30,546'), Blackbeard West #1 (32,997'), Blackbeard East (33,318') and Lafitte (34,162'). Regarding Lineham Creek, as of May 7, McMoran reports the well drilling ahead below 15,100' having spent $17.4 MM as of March 31,2012 for its share. 

Slide above right, courtesy of Goodrich Petroleum, shows the industry efforts currently in the emerging Tuscaloosa Marine Shale (TMS) play which spans across Louisiana into Mississippi.  Specifically, the map pinpoints the Anderson 17H #1 well (operated by Encana) where Goodrich (as a 5% WI owner) broke the official news this past Wednesday that the well, located in Amite County, MS, is the first TMS well to report 1,000 boepd+ test. On a 72-hour test, the well produced 1,082 boepd (975 bopd, 425 Mcfpd) on a 15/64 choke with 2,119 psi flowing casing pressure. Goodrich also announced increasing its leasehold position in the play to 120,000 net acres. Like other resource plays early in their life cycles, the TMS still requires additional drilling, production history and cost information in order to be deemed de-risked, economically viable and ready for wide-scale development.  That being said, 1,000 boepd test and continuously improving results are certainly moving the play in the right direction!

More Louisiana Onshore Ultra-Deep and TLM updates below. 

PLS' docFinder database allows you to do the research quickly! Shown below are additional select slides including THE SLIDE in which the industry first learned that Chevron in fact had an interest in McMoran's Davy Jones discovery (via a royalty position). Also, slides from Stone Energy regarding its Deep Gas efforts and a presentation regarding Louisiana's promising future from Scott Angelle, chief of Louisiana Department of Natural Resources.  The last slide is an excellent technical overview of the Tuscaloosa Marine Shale courtesy of Amelia Resources.

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Oil company execs, investors and bankers know full well the value of "competitive reconnaissance."  PLS' new docFinder database is a valuable DATA source to help you stay current on industry and company developments.  DocFinder lets you quickly view and compare type curves, oil price differentials, drilling costs, operating costs, CAPEX plans past, present and future, and other critical data.