Helix Announces Another GOM Find

Tuesday, July 17, 2007
Helix Energy Solutions announced that its wholly-owned subsidiary, Energy Resource Technology GOM (ERT) has made a second discovery in Garden Banks Block 506, approximately 145 miles offshore from Galveston, Texas, in 2,700 feet of water in the Gulf of Mexico. The 100% owned and operated "Danny" exploratory well has been drilled and wireline logs and repeat formation tests confirm the presence of high quality oil in a single sand body. Preliminary analysis indicates reserve potential of around 50 bcfe. The well is currently being completed and it is anticipated that the Danny discovery will be developed, in conjunction with the development of the Noonan reservoir, via a subsea tie back system to our 100% owned and operated East Cameron block 381 platform located approximately 31 miles to the north in 370 feet of water. First production from Danny is expected in the second half of 2008. Martin Ferron, President and CEO of Helix, said, "When we announced the acquisition of Remington Oil and Gas last year we pointed to the deepwater prospect portfolio as a potential source of significant production and contracting services value. We have now made two very successful steps in unlocking that value, which bodes well for the remaining inventory. With these first two discoveries, the ultimate value created from the deepwater prospect portfolio alone could well exceed the total acquisition price. "Noonan and Danny will be developed with our marine assets within approximately eighteen months of discovery with a combined finding and development (F&D) cost of less than $2/mcfe. Therefore both the pace and cost of the F&D work are at the leading edge of performance in the deepwater Gulf of Mexico."
Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

MN 100: Bordelon Marine

The Company: Founded in 1979, Bordelon Marine is a leading provider of Marine Transportation services operating in the Gulf of Mexico and around the world. The

Migrant Boat Sinks off Libya; 200 Feared Dead

A boat packed with mainly African migrants bound for Italy sank off the Libyan coast on Thursday and officials said up to 200 might have died. A security official in the western town of Zuwara,

Yamal LNG Arctic Project in Doldrums

The massive $27 billion Yamal LNG liquefied-natural-gas venture in the Arctic Circle, a centerpiece of President Vladimir Putin’s plan for Russia has been squeezed by U.

CAD/CAM

TASI Acquires SignalFire Telemetry

TASI HOLDINGS INC. announced today it has completed the acquisition of all shares of SignalFire Telemetry, located in Hudson, Massachusetts.  This new acquisition

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Repair Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.6450 sec (2 req/sec)