Panaco Inc., Houston, established gas and condensate production from Miocene Marg A-24 as the deepest producing sand in Price Lake field, Cameron Parish.
It plans more development on 1,491 acres of leases around the 1 Sturlese Estate, expected to begin sales in fourth quarter. MA-24 flowed 9.387 MMcfd of gas, 79 b/d of condensate, and 9 b/d of salt water with 9,935 psi FTP on a 14/64 in. choke from below 15,900 ft. CAOF is 40 MMcfd.
The company is obtaining relief from state severance tax for 2 years. The well cut 144 ft of gross productive interval in MA-22 and MA-24 sands. TD is 16,467 ft. Preliminary third party engineering assigned 36 bcfe of gross reserves in all categories to this well, Panaco said.
The lower Marg A Sands are comparable to reservoirs that produce on trend in Little Pecan Lake, Deep Lake, Pecan Island, Fresh Water Bayou, and Lac Blanc fields. Interest are Panaco 56.25%, St. Mary Land & Exploration Co. 31.25%, and Carson Energy Inc. 12.5%.
Davis Petroleum Corp., Houston, spudded a wildcat in late July in Galveston Bay 3 miles north of Eagle Bay field.
The 1 State Tract 251 is projected to 16,190 ft to test a Vicksburg sand prospect. Eagle Bay field, operated by Trans-Texas Gas Corp., Houston, is producing 75 MMcfd of gas and 12,000 b/d of condensate from three wells. Davis generated both prospects.
Meanwhile, Trans-Texas is drilling the 1R Sheldon, projected to 22,500 ft, just on the Davis-generated Trout Point prospect just southwest of Smith Point on the east side of Galveston Bay. It is a replacement for the 1 Sheldon, lost during completion at more than 21,000 ft, Davis said.
Davis is developing more prospects in the trend and has assembled numerous others it says will be drilling within the next year.