Chevron Corp. said Friday it plans to drill another appraisal well at its Jack and St. Malo prospects in the deepwaters of Gulf of Mexico later in 2008.
"One follow-up well for Jack and St. Malo is underway right now...and another a little bit later in the year," said Steve Crowe, Chevron's vice president and chief financial officer, who was addressing analysts during a conference call. "A decision will be made following those evaluations whether or not Jack and St. Malo will be kept as separate projects or conceivably combined."
Chevron, the second-largest U.S. oil company by market value, completed a successful well test last year in Jack, a 2004 discovery, making it the deepest successful well in the Gulf of Mexico. The oil giant said in July it would drill a second well early this year.
Just to refresh anyone's memories . . .
--> Jack #2 well <--
-- 7,000 feet of water
-- 20,000 feet beneath the sea floor
-- Flowed more than 6,000 bpd
--> St. Malo well <--
-- 6.900 feet of water
-- 22,166 feet beneath the sea floor
-- More than 450 net feet of oil pay over a gross hydrocarbon column of 1,400 feet
Since the St. Malmo well was drilled, Chevron took over a greater interest in the prospect from Unocal. _________________ Abundance - what a concept!
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