The Sydney-based company today said after reaching total depth of 1226m, the Mobile Bay 873-1 well discovered 13m of net gas pay, exceeding pre-drill expectations.
“This is the third successful well in the current three-well program and means that pre-drill targets for the overall program of 6-10 billion cubic feet equivalent have been met,” Petsec said.
The 873-1 well will now be cased and completed for production and a caisson installed to support production facilities.
Petsec said the rig would then return to Mobile Bay 951-1, which encountered 5.5m of net gas pay, to complete it and install a caisson. This has already been completed on Mobile Bay 950-1, which encountered 10.3m of net gas pay in two sands.
The Mobile Bay leases are about 160km east of New Orleans.
The company expects that it will take up to four months after the drilling program is completed to bring successful wells onto production.
Petsec owns a 50% working interest (40% net before payout) in the lease, while Royal Exploration is operator.
