Petsec Energy commences production from onshore Louisiana gas discovery


Petsec Energy commences production from onshore Louisiana gas discovery

SYDNEY -- Petsec Energy reported that its recent gas discovery the Adeline Sugar Factory (ASF) No. 4 well which reached a total depth of 15,300’ on 9 May 2014, commenced production on 30 June 2014. The well is producing at a rate of approximately 8 MMcfpd and 50 bcpd on an 11/64th inch choke.

The well, located in the Jeanerette Field, St. Mary Parish, onshore Louisiana was tested at a peak flow rate of 15.8 MMcfpd and 105 bcpd through a 16/64th inch choke, at a flowing tubing pressure of 7,890 pounds per square inch (psi) in June 2014. The well will be produced at lower rates while reservoir and facilities performance are monitored.

The ASF No. 4 is the first well drilled on prospects acquired in a recently completed transaction stated on the 7 July 2014.

Petsec Energy’s Chairman, Mr Terry Fern, commented: “This initial success of the ASF No. 4 well is an endorsement of the Company’s decision to return to its core
strength of exploration of high potential, high impact conventional oil and gas prospects. The Company looks forward to the prosecution of its strategy and increase in drilling activity over the coming months”.

Participating working interests in the well are: Petsec Energy Ltd 12.50% and Private Companies 87.50%.

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