Texaco finds oil pay with Cyrus well

Texaco Inc. drilled a well on Cyrus prospect on High Island A-582 that found more than 230 ft of oil and gas pay in four sands.

The block is in the Gulf of Mexico 300 miles southwest of New Orleans in 440 ft of water. Texaco said the block is on the southern flank of its Krypton field, which encompasses High Island 563 and the northern half of High Island A-582.

The well, drilled to TD of 15,147 ft (12,540 ft TVD), tested a faulted structure on the south end of the block. Texaco said oil and gas were found in this structure in 1982, and that well tests had established those sands' productivity.

The companies plan to drill at least one and possibly two more wells in the block before releasing the rig.

If Cyrus's commerciality is established, said Texaco, it would take 12-18 months to build a platform, from which production could begin in the second half of 2002.

Texaco operates Cyrus with 47% interest; Devon Energy Corp. owns 37%; and six other parties hold the remaining interests.

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