Contango Oil & Gas announced a successful well at its Mary Rose 2 location in Louisiana state waters. This is the third well the company has drilled on its Mary Rose prospect and expects to test the well by the end of May 2008.
Upon completion and tie-in to the company’s recently completed production platform at Eugene Island 11, Contango expects the well to flow at an 8/8ths rate of approximately 50 to 60 million cubic feet equivalent per day (mmcfe/d). Mary Rose 2 was drilled by Contango Operators, a wholly owned subsidiary of the company.
Kenneth Peak, chairman and CEO of Contango, said: We are drilling our Mary Rose 4 exploration well, in which we have a net revenue interest of approximately 25.5%. Upon completion of our Mary Rose 2 well and if successful at Mary Rose 4, both wells will flow into our production platform at Eugene Island 11.