The Meridian Resource Corporation Announces Production Test Result on Its Goodrich-Cocke No. 4 Well.
The Coastal No. 20 rig utilized to drill this well was moved within Iberia Parish to drill the J.A. Smith No. 1 well on the exploratory "Y-Not" prospect to test a sand in the Lower Miocene formation at a depth of approximately 16,000 feet MD. The well is currently drilling at approximately 5,100 feet MD.
Operations have begun on the first of two horizontal laterals in the Blackstone Minerals No. 1 well to test the Austin Chalk formation. The well was recently drilled to 14,500 feet and logged and cored apparent gas pay in the Austin Chalk formation. The drilling of the two laterals is expected to take a total of approximately 65-70 days. A pipeline has been laid to the well so that it can be flow tested upon the completion of the second lateral.
The Meridian Resource Corporation is an independent oil and natural gas company engaged in the exploration for and development of oil and natural gas in Louisiana, Texas, and the Gulf of Mexico. Meridian has access to an extensive inventory of seismic data and, among independent producers, is a leader in using 3-D seismic and other technologies to analyze prospects, define risk, target and complete high-potential wells for exploration and development. Meridian is headquartered in Houston, Texas, and has offices in Tulsa, Oklahoma as well as a field office in Weeks Island, Louisiana. Meridian stock is traded on the New York Stock Exchange under the symbol "TMR".
Safe Harbor Statement and Disclaimer
Statements identified by the words "expects," "projects," "plans," and certain of the other foregoing statements may be deemed "forward-looking statements." Although Meridian believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this press release. These include risks inherent in the drilling of oil and natural gas wells, including risks of fire, explosion, blowout, pipe failure, casing collapse, unusual or unexpected formation pressures, environmental hazards, and other operating and production risks inherent in oil and natural gas drilling and production activities, which may temporarily or permanently reduce production or cause initial production or test results to not be indicative of future well performance or delay the timing of sales or completion of drilling operations; risks with respect to oil and natural gas prices, a material decline in which could cause the Company to delay or suspend planned drilling operations or reduce production levels; and risks relating to the availability of capital to fund drilling operations that can be adversely affected by adverse drilling results, production declines and declines in oil and gas prices. These and other risks are described in the Company's documents and reports, available from the U.S. Securities and Exchange Commission, including the report filed on Form 10-K for the year ended December 31, 2005.
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|Date:||May 23, 2006|
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