Helix Hit Deepwater Oil in Gulf of Mexico

Press Release
Tuesday, July 17, 2012

Helix Energy Solutions Group discover high quality pay oil in deep water 145 miles offshore from Galveston, Texas

The Danny II exploration well was drilled to a total depth of approximately 14,750 feet, in water depths of approximately 2,800 feet.

The well is currently being completed and most likely will be developed via a subsea tie back system to the company's 70% owned and operated East Cameron Block 381 platform located approximately 31 miles to the north in 370 feet of water. First production from Danny II is expected in the fourth quarter of 2012.

Johnny Edwards, President of Energy Resource Technology GOM (ERT), a wholly-owned subsidiary of Helix, stated, “Preliminary data from down-hole test tools confirmed oil in the Danny II well with over 9,500 psi of bottom-hole pressure. Additional testing to determine the composition of the reservoir fluids is on-going. We will provide an update on Danny II after completion.”

Helix Energy Solutions Group, headquartered in Houston, Texas, is an international offshore energy company that provides key life of field services to the energy market as well as to its own oil and gas business unit.

 

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