The Sydney-based company said that four hydrocarbon bearing sands - with a total of 41 metres of net gas pay - had been encountered when drilling the West Cameron 343-A-18 well.
"While no reserves estimates are currently available, the well results are consistent with the pre-drill mapped potential of 8 billion cubic feet (gross) of natural gas," Petsec said. "Production casing is being set prior to the well being suspended for future completion."
The latest success follows Petsec's West Cameron 352-A-13 and West Cameron 343-A-17 wells, both of which in the past month encountered several hydrocarbon bearing sands ranging between 18 and 23 metres of net gas pay.
The company said it now plans to commence gas production from the three wells in January next year from upgraded facilities on the West Cameron 352 'A' production platform.
The three-out-of-three exploration success marks Petsec's return as operator to the offshore Louisiana, Gulf of Mexico area following the major restructuring from January 2001 of the company's United States subsidiary.
Working interests in these West Cameron leases are Petsec (75%- operator) with the remainder held by private US investors.
Petsec is also looking to commence gas production this month from the Ship Shoal 184 and 191 leases offshore Louisiana, in which the company has a 7% overriding royalty interest. Initial production will be from two wells with a third currently being drilled and a fourth expected.
