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December 3, 2012
08:39 EDTMMR, EXXIMcMoRan Exploration updates operations at Davy Jones No. 1
McMoRan Exploration (MMR) provided an update on the Davy Jones No. 1 operations currently in progress on South Marsh Island Block 230. As previously reported, the well was opened for testing in November. Completion fluids were recovered from the well but flow was believed to be restricted by residual barite in the perforations. Barite is a heavy component of drilling mud that was used to suppress flow of the well. Recent operations to stimulate the well by injecting a solvent to dissolve the barite had limited success as a result of insufficient contact of the barite with the solvent. McMoRan is initiating operations to use a propellant stimulation gun to create fractures that will extend beyond the suspected formation damage to attempt to unblock the perforations and if necessary McMoRan may inject additional solvent to make contact and dissolve the barite. McMoRan 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 (20,000 acres). McMoRan is the operator and holds 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) (15.8%), JX Nippon Oil Exploration (Gulf) Limited (12%) and Moncrief Offshore LLC (8.8%).
News For MMR;EXXI From The Last 14 Days
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September 16, 2014
09:59 EDTEXXIOn The Fly: Analyst Downgrade Summary
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09:20 EDTEXXIEnergy XXI downgraded to Equalweight from Overweight at Capital One
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September 11, 2014
09:42 EDTEXXIEnergy XXI reiterated as a Strong Buy at Raymond James
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September 10, 2014
18:33 EDTEXXIOn The Fly: After Hours Movers
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16:06 EDTEXXIDeal.com says Energy XXI hires adviser for GOM sale, Bloomberg reports
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