Partners in the Fausse Point prospect in Louisiana will start commercial production from the TGR Land Company-1 discovery well, which struck an unexpected deep gas accumulation, to find further exploration of the find.
Project partner Golden Gate Petroleum (GGP) said testing of the deepest levels of the well suggested the zone was possibly connected to a much larger accumulation. The well was now being completed for production from the zone at a depth of 8370 feet to generate early cash for further exploration.
The well was expected to be tied in at a rate of about 500,000 cubic feet of gas per day. Further testing of two hydrocarbon-bearing overlying zones – the original targets of the well – would be determined on the performance of the deep zone.
Australia-listed GGP said the venture would now build access roads, production facilities and a short pipeline to allow commercial production, which it expected to achieve at a cost of a about $400,000.
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