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Petsec Energy reports gas discovery at the Jeanerette field in Louisiana

SYDNEY, Australia -- Petsec Energy reported that the Adeline Sugar Factory No. 4 well has reached a total depth of 15,300 ft (4,663 m). Wireline logging has been completed and a gas/condensate discovery in the primary objective lower Miocene sands is indicated. Protective liner has been run in preparation for completing the well as a producer. Production is expected to commence within the next month.

The ASF No. 4 is an onshore exploration well located in Jeanerette field in St. Mary Parish, Louisiana which was spud on March 12, 2014. Petsec’s participation in the well was agreed in mid-April following technical review and negotiations which took place after drilling commenced but prior to reaching the well’s exploration objectives. The newly discovered interval in the well is a deeper target on a proven structure that has previously produced significant quantities of gas and condensate at shallower levels.

Petsec Energy’s Chairman, Terry Fern, commented on the discovery: “We are pleased that Petsec Energy’s first conventional exploration well drilled since our 2010 gas/condensate discovery at the Marathon field is a success. Having suspended our shale oil strategy and returned to our core strength of conventional exploration, we look forward to continuing exploration success and growth in the value of the company.”

05/14/2014

 

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