Grand Gulf Energy targeting 1 million barrels of oil with new Louisiana well
Sept. 17-(MENAFN – ProactiveInvestors – Australia) Grand Gulf Energy (ASX: GGE) and its partners are preparing to spud the Desiree prospect in Louisiana targeting 1 million barrels of oil in early October.
The Desiree well is updip from and just 270 feet away from the largest producer in the Napoleonville project, which produced 2.3 million barrels and was still producing 100 barrels per day when it was abandoned at low oil prices with split casing.
If successful, Desiree offers long life reserves with initial production rates estimated at between 400 barrels and 800 barrels per day.
Desiree will be drilled to a total depth of 12,550 feet and targets the Cris R II and III intervals as the primary target with potential to hold up to 800,000 barrels of oil. Secondary objectives are the Cris R IV and V intervals that could hold 200,000 barrels of oil and between 15 to 30 billion cubic feet of gas [!!!] . . . .
– – – THAT explains A LOT!
Grand Gulf is very familiar with Louisiana!
Mar. 27, 2012 – Grand Gulf Energy acquires stake in Louisiana gas and condensate play
Grand Gulf Energy (ASX: GGE) has gained exposure to a potentially long life, high production gas and condensate in St Martin Parish, Louisiana.
The 1142 acre (4.6 square kilometre) Pintail prospect has potential resources of 150 billion cubic feet (Bcf) of gas and 2.3 million barrels (MMbbl) of condensate with upside for 350Bcf of gas and 5.5MMbbl of condensate.
It was defined by proprietary 3D seismic and is a deeper pool test of the Duck Lake Field that has produced 1.78 trillion cubic feet of gas and 103MMbbl of oil from shallower sands.
The proposed initial well, which is expected to spud in the fourth quarter of 2012, will be drilled directionally to test multiple Marg A sand units on a downthrown, 3-way drag closure along a regional sealing Marg A fault. . . .
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