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TheStreet Open House

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

"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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