Printer Friendly

The Meridian Resource Corporation Announces Production Test Results on Its N.W. Bayou Chene Discovery.

HOUSTON -- The Meridian Resource Corporation (NYSE:TMR) 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 prospect in the Company's Ramos Complex area to drill the CL&F D-1 well. The well will be drilled to a total measured depth of approximately 12,100 feet MD.

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 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 filings with the Securities and Exchange Commission, including its reports on Form 10-K and Form 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. 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, and has a field office in Weeks Island, Louisiana. Meridian stock is traded on the New York Stock Exchange under the symbol "TMR."
COPYRIGHT 2005 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Jun 7, 2005
Previous Article:Everypath and Socket Communications Partner to Deliver Integrated Solutions for the Mobile Workforce.
Next Article:Mi8's Hosted Microsoft Exchange Voted MSD2D People's Choice Award Winner.

Related Articles
The Meridian Resource Corporation Announces Test Results at North Turtle Bayou/Ramos Field Discovery.
The Meridian Resource Corporation Announces Discovery At Its South Deep Lake Prospect -- Rockefeller Refuge -- and Convertible Subordinated Note...
The Meridian Resource Corporation Announces New Field Discovery and Updates Drilling and Completion Operations.
The Meridian Resource Corporation Announces New Exploration Field Discovery With Highest Exploration Drilling Activity Level in Company's History.
The Meridian Resource Corporation Announces New Well At Weeks Island.
The Meridian Resource Corporation Announces Production Test Results on Its Bayou Chene Discovery.
Meridian Issues Second Quarter Operations Update.
Meridian Resource Corporation Announces Recent Drilling Results.
Meridian Resource Corporation Announces Impact from Hurricane Katrina.
Meridian Resource Corporation Issues Third Quarter Operations Update.

Terms of use | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters