Gulf of Mexico: Saratoga sees shallow, deep potential

Saratoga Resources Inc., Houston, plans to drill new wells this year in the Breton Sound and Vermilion areas of the Gulf of Mexico shelf and said its deeper prospects, look-alike structures to McMoRan Exploration Co.’s recent high profile discoveries, will be drilled in joint ventures.

By OGJ editors
HOUSTON, July 20
– Saratoga Resources Inc., Houston, plans to drill new wells this year in the Breton Sound and Vermilion areas of the Gulf of Mexico shelf and said its deeper prospects, look-alike structures to McMoRan Exploration Co.’s recent high profile discoveries, will be drilled in joint ventures.

Saratoga, whose shares began trading July 20 in New York, took delivery of a rig to spud the Catina well in Breton Sound 51 the same day. The company then expects to drill its Rio Grande prospect and later this year hopes to drill North Tiger at Breton Sound 18 field, Main Pass 47 QQ-15 Updip, and the 3763-16 well at Vermilion 16 field (OGJ, Apr. 12, 2010, p. 31).

The company has performed six recompletions, one workover, and multiple infrastructure projects so far in its 2011 development program.

Saratoga’s full field studies show exciting potential in both undeveloped formations at less than 3,000 ft and several structures below 15,000 ft that potentially hold up to 5.8 tcf of gas and 600 million bbl of liquids, the company said.

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