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Texaco Exploration News

31 Mar 2000

McMoRan, Halliburton Form Alliance To Develop 160 Gulf Of Mexico Blocks

McMoRan Exploration Co. and Halliburton Company have announced the formation of a strategic alliance to conduct operations for McMoRan's recently announced major new oil and gas exploration and development program in the Gulf of Mexico. As previously announced, McMoRan has acquired from Texaco Exploration and Production the right to explore 89 oil and gas tracts and McMoRan purchased Shell Offshore Inc.'s, interest in 56 exploratory leases, all in the Gulf of Mexico. These two transactions, together with its current lease inventory, provide McMoRan exploratory rights to 160 blocks covering approximately 750,000 gross acres and the foundation for an aggressive exploration and development program.

05 May 2000

Offshore News

A contract for the construction of a deepwater construction vessel was signed by Bender Shipbuilding & Repair Co., Inc., and Torch, Inc. The Guido Perla & Associates-designed 340 x 85 x 31 ft. M/V Midnight Warrior is a current generation construction vessel, equipped to provide offshore flowline installation, offshore umbilical installation and subsea construction and is capable of worldwide operations. Midnight Warrior is to be ABS-classed, Maltese Cross A1, Maltese Cross AMS, DP-2 Circle E for unlimited international service. The 15,000 hp vessel will be diesel electric, SCR, with three 3,000 hp azimuthing thrusters on the stern and two 2,000 hp tunnel thrusters in the bow. The U.S.

14 Jan 2000

Texaco Discontinues Appraisal Drillings

Texaco has discontinued appraisal drilling of the Fuji and adjacent McKinley prospects in the Gulf of Mexico. Fuji is located 150 miles southwest of New Orleans. The No. 1 rank wildcat well (Green Canyon Block 506) was drilled in 1995 and encountered more than 180 ft. of oil pay. Three subsequent appraisal wells - two of which encountered notable oil pay - were drilled over the past three years. Test data, however, indicated the reservoirs were of limited areal extent. McKinley is located immediately northwest of Fuji. The No. 1 rank wildcat (Green Canyon 416) was drilled in 1998 and encountered more than 100 ft. of oil pay. An appraisal well drilled did not encounter significant hydrocarbons and was declared a dry hole.