The firm has discovered oil during the drilling of an exploration well, Wang, in the Phoenix field situated in Green Canyon Block 237, about 149.6km off the Louisiana coast, US.
Helix through its wholly-owned subsidiary Energy Resource Technology GOM (ERT) drilled the well to a total depth of about 18,300ft in water depths of about 2,300ft and intersected over 100ft of high quality net oil pay in Wang.
The well is currently being completed and will be developed through a subsea tie back system connected to the Helix’s Helix Producer I floating production unit.
Energy Resource Technology GOM president Johnny Edwards said, "Preliminary data from down-hole test tools confirmed oil in the
Wang well with over 11,800 psi of bottom-hole pressure. We are moving ahead to complete the well."
The first production from the well is expected to begin in the early second quarter of 2013. ERT is the operator of the well with 70% working interest in it, while Sojitz Energy Venture owns the remaining 30% working interest.
