New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
November 26, 2012
15:10 EDTMMR, EXXIMcMoRan Exploration updates Gulf of Mexico exploration, development progress
McMoRan Exploration (MMR) updated its ultra-deep exploration and development activities in the shallow waters of the Gulf of Mexico Shelf and onshore in the Gulf Coast area, including in progress flow testing operations at Davy Jones No. 1, positive drilling results onshore at Lineham Creek, new logging results from Blackbeard West No. 2 and in progress operations at Lomond North. McMoRan provided an update on the Davy Jones No. 1 production test currently in progress on South Marsh Island Block 230. On November 11, the well was opened for test and flowed gas into an unmetered atmospheric tank before being flared. To date, MMR has recovered completion fluids with weights of approximately 9 and 19 pounds per gallon and is initiating operations to inject a barite solvent into the formation in order to clean out the perforations to achieve a measureable flow test. McMoRan said it will provide updates as flow testing operations progress and a measurable flow test is achieved. Davy Jones involves a large ultra-deep structure encompassing four OCS lease blocks, with McMoRan the operator and holder of a 63.4% working interest and a 50.2% net revenue interest in Davy Jones. Other working interest owners in Davy Jones include Energy XXI (EXXI), with a 15.8% stake. McMoRan also announced that the Lineham Creek exploratory well, located onshore in Cameron Parish, Louisiana, has encountered what appears to be hydrocarbon bearing porous sands above 24,000 feet, as identified by wireline logs. The well, which has been drilled to 25,250 feet, will be deepened to a proposed total depth of 29,000 feet to evaluate Eocene and Paleocene objectives. McMoRan is participating for a 36.0% working interest. Other working interest owners include EXXI, with 9.0%, and W. A. “Tex” Moncrief Jr., with 5.0%. Additionally, McMoRan said the Blackbeard West No. 2 ultra-deep exploration well on Ship Shoal Block 188 is currently drilling below 25,200 feet. Recent logging data indicates that the well has encountered additional potential hydrocarbon bearing sands at approximately 25,000 feet. These sands are in addition to the previously reported potential low-resistivity pay zones, including one of which is approximately 80 feet thick and requires further evaluation.
News For MMR;EXXI From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
October 22, 2014
12:19 EDTEXXIOptions with decreasing implied volatility
Subscribe for More Information
October 20, 2014
14:47 EDTEXXIEnergy XXI price target lowered to $13 from $26 at Raymond James
Subscribe for More Information
07:03 EDTEXXIEnergy XXI CFO West Griffin steps down, Bruce Busmire to succeed
Subscribe for More Information
October 16, 2014
07:23 EDTEXXIHart Energy to hold a conference
Subscribe for More Information
October 15, 2014
11:46 EDTEXXIOptions with increasing implied volatility
Subscribe for More Information
10:02 EDTEXXIOn The Fly: Analyst Upgrade Summary
Subscribe for More Information
07:25 EDTEXXICanaccord to hold a conference
Subscribe for More Information
07:18 EDTEXXIEnergy XXI upgraded to Buy from Neutral at Global Hunter
Subscribe for More Information
05:49 EDTEXXIStocks with implied volatility movement; EXXI AFSI
Subscribe for More Information
October 14, 2014
11:28 EDTEXXIOptions with increasing implied volatility
Subscribe for More Information
October 13, 2014
12:33 EDTEXXIOptions with increasing implied volatility
Subscribe for More Information
October 10, 2014
14:23 EDTEXXIEnergy XXI volatility increases as shares trend to five-year low
Energy XXI October call option implied volatility is at 101, November is at 85, December is at 98, January is at 86; compared to its 26-week average of 43 according to Track Data, suggesting large price movement.
12:11 EDTEXXIOptions with increasing implied volatility
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use