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04 09, 2012 by The Times-Picayune
Independent petroleum producer McMoRan Exploration Co. says work is under way to begin commercial natural gas production from its Davy Jones No. 1 well off the Louisiana coast.
McMoRan has said the area -- consisting of four lease blocks in the shallow-water Gulf of Mexico shelf -- could contain 2 to 6 trillion cubic feet of natural gas. The company said a pressure buildup was followed by a gas flare from the well. McMoRan said initial samples indicated the natural gas is high quality.
McMoRan said blockage from drilling fluid has prevented the company from getting a measurable flow rate. Operations are under way to remove tubing from the well and clear drilling fluid to get a flow rate during the second quarter, followed by commercial production soon after that.
The company holds a 63.4 percent working interest and a 50.2 percent net revenue interest in Davy Jones. Other working interest owners include: Energy XXI, with a 15.8 percent stake; JX Nippon Oil Exploration (Gulf) Ltd., with a 12 percent working interest; and Moncrief Offshore LLC, with a 8.8 percent stake.
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