In October 2012, McMoRan submitted initial development plans for Lafitte to the BSEE. McMoRan is seeking approval to complete and test the Jackson/Yegua sands below 33,300 feet in the Upper Eocene. This completion will require the development of 30,000 psi equipment. McMoRan logged two hydrocarbon bearing zones in the Upper Eocene section of the Lafitte well with an aggregate thickness of approximately 65 net feet.The Lafitte ultra-deep exploration well, which is located on Eugene Island Block 223 in 140 feet of water, was drilled to a total depth of 34,162 feet in March 2012. Exploration results from the well indicate the presence of hydrocarbons below the salt weld in geologic formations including Middle/Lower Miocene, Frio, Upper Eocene, and Sparta carbonate. The Upper Eocene sands are the first hydrocarbon bearing Upper Eocene sands encountered either on the GOM Shelf or in the deepwater offshore Louisiana. These exploration results enhance the potential of McMoRan’s other acreage in the Lafitte strategic area, including McMoRan’s Barataria and Captain Blood ultra-deep prospects. Barataria (25,000 gross acres) is located west southwest of Lafitte, and Captain Blood (25,000 gross acres) is located immediately south of Lafitte.
McMoRan Exploration Co. Reports Third-Quarter/Nine-Month 2012 Results
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