The Meridian Resource Corporation Announces Production Test Results on Its N.W. Bayou Chene Discovery.
HOUSTON -- The Meridian Resource Corporation (NYSE NYSE
See: New York Stock Exchange :TMR TMR
total mixed ration.
TMR 1 Trainable mentally retarded 2 Transmyocardial revascularization, see there ) today announced initial production test results at a stabilized gross daily flow rate of approximately 6.5 million cubic feet of gas ("Mmcf") and 214 barrels of condensate with no accompanying water production on its Avoca 6-1 well (N.W. Bayou Chene prospect area). The Avoca 6-1 well was drilled to 11,500 feet measured depth ("MD") and logged gas pay in the Big Hum 2 sand section between 10,748 feet and 10,791 feet MD. The well was tested through 40 feet of perforations between 10,751 feet and 10,791 feet MD at a flowing tubing pressure of 3,608 psi through an 18/64th-inch choke with a shut in tubing pressure measured at 3,974 psi. Production from the well will require construction of a pipeline and production facilities with expectations to place both the Avoca 6-1 and Avoca 5-2 wells on production during early third quarter 2005. The Company owns a 92% working interest in the wells.
The drilling rig utilized to drill the N.W. Bayou Chene well has been mobilized to the Company's Turtle Bay Turtle Bay is the name of the following places:
Meridian continues to focus on its exploration and exploitation of several project areas including the Ramos Complex and the Biloxi Marshlands project area in addition to its other properties which comprise an asset base consisting of approximately 8,000 square miles of 3-D seismic data.
Safe Harbor Safe Harbor
1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.
2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. 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 relating to relate prep → concernant
relating to relate prep → bezüglich +gen, mit Bezug auf +acc 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 filings with the Securities and Exchange Commission, including its reports on Form 10-K Form 10-K
A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information.
See 10-K. and Form 10-Q Form 10-Q
See 10-Q. .
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 Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico
Golfo de Mexico
Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east . Meridian has access to an extensive inventory of seismic data and, among independent producers, is a leader in using 3-D seismic technology to analyze prospects, define risk, and target high-potential wells for exploration and development. Meridian is headquartered in Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation).
Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the , and has a field office in Weeks Island, Louisiana. Meridian stock is traded on the New York Stock Exchange New York Stock Exchange (NYSE)
World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol "TMR."