A porosity (neutron/density) log will be necessary to quantify the porosity in this new sand member. The new sand interval combined with the 135ft of net pay announced on January 11, 2010 brings the total possible productive net sands to 200ft in the Davy Jones well. Flow testing will be required to confirm the ultimate hydrocarbon flow rates from the well.
McMoRan operates the Davy Jones prospect and is funding 25.7% of the exploratory costs and holds a 32.7% working interest and 25.9% net revenue interest. Other working interest owners at Davy Jones include: Plains Exploration & Production Company (27.7%), Energy XXI (15.8%), Nippon Oil Exploration USA (12%), WA ‘Tex’ Moncrief, Jr (8.8%) and a private investor (3%).
McMoRan Exploration is an independent public company engaged in the exploration, development and production of oil and natural gas offshore in the Gulf of Mexico and onshore in the Gulf Coast area.
