Saratoga sees more liquids potential at Grand Bay

Saratoga Resources Inc., Houston, has dually completed its QQ-25 Roux Toux well in Main Pass Block 47 field on State Lease 195 in the Gulf of Mexico offshore Louisiana and tied it back to the company’s Grand Bay production facility.

Dual completion involved the 13 and 17 sands. The well demonstrated better than expected initial rates of a combined 290 b/d of oil and 2.5 MMcfd of gas with 1,800 psi flowing tubing pressure on a 14/64-in. choke on the short string and 275 psi at 30/64-in. on the long string. Total depth is 8,453 ft measured depth, 8,000 ft true vertical depth.

Meanwhile, the company produced 1.1163 million bbl of oil equivalent, 61% crude oil and 39% natural gas, in 2012, up 18% from 2011 output. It achieved the gain despite the production shutdown due to Hurricane Isaac in the third quarter and lingering effects into the fourth quarter of 2012.

Saratoga sells crude oil on the Light Louisiana Sweet and Heavy Louisiana Sweet markets, both currently at a premium of approximately 20% to West Texas Intermediate posted prices. Gas sells on Louisiana markets, and the company receives a premium over NYMEX Henry Hub posted prices due to BTU content and quality adjustments.

The company expects to report writedowns in yearend 2012 reserves due to gas price weakness in 2012, but it has also reprocessed its proprietary Grand Bay 3D seismic data and relaunched detailed field studies from which it expects to derive development drilling opportunities with a higher liquid component (OGJ, Dec. 6, 2010, p. 68).

Related Articles

Petrobras signs LOI to charter FPSO for Libra field

10/10/2014 A consortium led by Petroleo Brasileiro SA (Petrobras) has signed a letter of intent with Odebrecht Oil & Gas and Teekay to charter a floating ...

BHI: Permian drives gains in weekly, yearly US rig count

10/10/2014 The US drilling rig count gained 8 units to reach 1,930 rigs working during the week ended Oct. 10, driven in large part by growth in the Permian b...

Yinka-led group takes FID on Aje oil field offshore Nigeria

10/10/2014 A group led by Lagos-based independent Yinka Folawiyo Petroleum Co. Ltd. have taken a final investment decision on developing the $220-million firs...

Gassco takes operatorship of Valemon gas pipeline


Norway’s Gassco AS has taken over operatorship of the 177-km, 22-in. Valemon rich gas pipeline following approval of a pressure test.

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!


Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected