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News Breaks
January 30, 2013
16:30 EDTEXXI, MMRMcMoRan Exploration updates status of Davey Jones No. 1
McMoRan Exploration (MMR) updated the status of the Davy Jones No. 1 well on South Marsh Island Block 230. As previously reported, McMoRan is developing plans at the Davy Jones No. 1 well to pump a hydraulic fracture treatment including proppant to facilitate hydrocarbon movement into the wellbore. Future plans will incorporate data gained to date at Davy Jones as well as potential core and log data from the in progress well at Lineham Creek, located onshore approximately 50 miles northwest of Davy Jones. The rig is being moved off location for several months while a large scale hydraulic fracture treatment is designed to penetrate the Wilcox reservoirs. As previously reported, the Davy Jones No. 1 well logged 200 net feet of pay in multiple Wilcox sands, which were all full to base. The Davy Jones offset appraisal well, Davy Jones No. 2, which is located two and a half miles southwest of Davy Jones No. 1, confirmed 120 net feet of pay in multiple Wilcox sands, indicating continuity across the major structural features of the Davy Jones prospect, and also encountered 192 net feet of potential hydrocarbons in the Tuscaloosa and Lower Cretaceous carbonate sections. McMoRan is the operator and holds a 63.4% working interest and a 50.2% net revenue interest in Davy Jones. Another working interest owner in Davy Jones includes Energy XXI (EXXI), 15.8%.
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