McMoRan says promising Mound Point well flowed 10-20 MMcfd

McMoRan Exploration Co. said a well on its Louisiana state lease 340 flowed 10-20 MMcfd over a 42-ft interval. In addition to the tested interval, the Mound Point well found a laminated sand section at 16,890-17,275 ft that could also contain hydrocarbons.

Jan. 31, 2002

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By the OGJ Online Staff

HOUSTON, Jan. 31 -- McMoRan Exploration Co. said a well on its Louisiana state lease 340 flowed 10-20 MMcfd over a 42-ft interval.

Mound Point No. 2 well was perforated at 18,558-600 ft. Initially, it flowed free of water, said McMoRan, but added the cement that isolated the hydrocarbon-bearing sands apparently failed and salt water from sands above the perforated zone encroached on the well.

The company said the interval has excellent porosity and should achieve high flow rates. It has shut-in the well and expects to recement and retest it.

James Moffett, co-chairman of McMoRan, said, "This well is significant because it validates our exploration concept for the Mound Point area where we predicted that deep gas-productive Miocene sands underlie shallow production in the Mound Point area, which is one of the largest geologic structures in the shallow waters offshore Louisiana and has produced approximately 3 tcf of natural gas from sands above 12,000 ft. Immediately below these shallow sands, the deeper Miocene sands known as the Robulus L and Operculinoides/Gyroidina, have been sparsely drilled."

He said that in addition to the tested interval, the well found a laminated sand section at 16,890-17,275 ft that also could contain hydrocarbons.

McMoRan has exploration rights on 60,000 acres in the Mound Point area and an option to earn rights in an adjacent 20,000 acres.