Medco Energi US LLC recently logged two primary pay sands with a combined 25' TVT of natural gas pay in the East Cameron 318 B-4 well. The well, located approximately 150 miles SSW of Lafayette, Louisiana, also encountered three other potential pay sands which will be tested after the two primary zones are produced. The well is currently in the process of being suspended pending removal of the platform drilling rig (Nabors SuperSundowner XIX). Completion operations will be conducted in early February. Flowrates will be announced after completion and testing are finalized.
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Also at East Cameron 318, the Company is pleased to announce initiation of production from its newly installed "EC 318 B" facility. Flow from the Medco- operated EC 318 B-3 well commenced on December 22, 2006. The well is currently testing at 5,000 MSCFD. Further production increases are planned based on additional testing. Pending the release of the drilling rig, the EC 318 B facility will also host additional compression capacity for the four company-operated wells at EC 317 A, as well as anticipated production from the EC 318 B-4 well noted above.
Ted Russell, MEUS' Operations Manager stated, "These new developments will significantly increase our net production in the Gulf of Mexico. Once fully operational, we expect our total net production to rise by 30% - 40%. The new platform will also serve as a logistics and operating hub for loop operations in the area."
Medco Energi US LLC is a wholly owned subsidiary of PT MedcoEnergi Internasional TBK ("MedcoEnergi"), and specializes in mature field re- development activities in the Gulf of Mexico and coastal areas of Texas and Louisiana.