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McMoRan Exploration Co intercepts additional hydrocarbons in the Lafitte ultra-deep exploration well.

M2 EQUITYBITES-November 16, 2011-McMoRan Exploration Co intercepts additional hydrocarbons in the Lafitte ultra-deep exploration well(C)2011 M2 COMMUNICATIONS

Natural gas company McMoRan Exploration Co (NYSE:MMR) revealed on Tuesday additional hydrocarbons from its Lafitte ultra-deep prospect on Eugene Island Block 223 in about 140 feet of water.

The company stated that the Lafitte well has been drilled to a true vertical depth of 29,756 feet with wireline logs to 29,740 feet, which indicated 56 net feet of hydrocarbon bearing sand over a 58 foot gross interval in the Cris-R section.

According to the company, the new Cris-R sand interval combined with the 115 feet of potential net pay brings the total possible productive net sands to 171 feet in the Lafitte well. It plans to apply for a permit to deepen the well to a proposed total depth of 32,000 feet to evaluate deeper Miocene and Oligocene objectives.

In addition, the company said Lafitte is its third ultra-deep prospect to encounter Miocene age sands below the salt weld on the GOM Shelf and it holds a 72.0% working interest and a 58.3% net revenue interest in Lafitte.

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Publication:M2 EquityBites (EQB)
Date:Nov 16, 2011
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