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Energy XXI Provides Fiscal Year-End Reserves Estimates And Operations Update

Stocks in this article: EXXI

"We continue to see very positive results from the West Delta field, with more than 40 additional horizontal development locations already mapped," Schiller said. "We are going to move a second rig to the field this winter to expedite development, and will add a new production platform to accommodate drilling of the identified horizontal locations."

In the Main Pass 61 field (100% WI/ 78% NRI), the Quintero well was drilled to 11,500 feet MD/ 6,560 feet TVD into the J-6 sand. The high-angle well was completed and brought online at a gross rate of 1,260 Bbl/d and 600 Mcf/d with flowing tubing pressure of 600 psi. The Java well has been drilled to 9,676 feet MD/ 7,148 feet TVD, and encountered oil pay in an updip position in the J-6 sand. The Java well completion is finished and the well will come online within the week.

At Grand Isle 16/18 (100% WI/ 86% NRI), the Vanguard horizontal well was drilled to 10,635 feet MD/ 8,210 feet TVD with a 940-foot lateral into the C-1 sand, and brought on production in June at a gross rate of 1,600 Bbl/d and 600 Mcf/d with a flowing tubing pressure of 750 psi. The Vanguard pilot hole logged pay in four separate reservoirs, including the targeted C-1 sand.

In the South Timbalier 54 field (100% WI/ 87% NRI), two high-angle wells were completed in the fiscal fourth quarter. The Slider well was drilled to 6,291 feet MD/ 5,036 TVD and brought on production in mid-May at 350 Bbl/d and 300 Mcf/d, gross. The Charlie well was drilled to 7,200 feet MD/ 5,063 feet TVD targeting two separate pay sands. Charlie was dual-completed and brought online in June at a combined rate of 350 Bbl/d and 6,000 Mcf/d with flowing tubing pressure of 260 psi in the A-1 oil sand and 1,400 psi in the PL-10 gas sand.

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