Global Leader in International Oil and Gas Industry News

posted in:

Helix Energy Solutions - www.youroilandgasnews.com

Helix announces deepwater Gulf of Mexico discovery

Wednesday, Dec 19, 2012

Helix Energy Solutions Group (NYSE: HLX) today announced an oil discovery at the Wang exploration well in the Phoenix Field located in Green Canyon Block 237, approximately 93 miles off the Louisiana coast. The Wang exploration well encountered more than 100 feet of high quality net oil pay.

“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.”

Johnny Edwards, President of Energy Resource Technology GOM (ERT), a wholly owned subsidiary of Helix, stated, “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 Wang exploration well was drilled to a total depth of approximately 18,300 feet, in water depths of approximately 2,300 feet. The well is currently being completed and will be developed via a subsea tie back system to our Helix-owned Helix Producer I floating production unit. First production from Wang is expected early second quarter of 2013.

The Company recently disclosed in a previous press release that it has entered a definitive agreement to sell ERT to Talos Production LLC, a wholly owned subsidiary of Talos Energy LLC, for a base purchase price of $610 million plus contingent consideration. The ultimate success of the Wang exploration well is the primary component of the transaction’s contingent consideration.

Source: Business Wire

To access over 3,000 of the latest oil projects from across the world visit Projects OGP for free trial today

posted in:

Other Oil & Gas News

Oando Energy Resources increases deposit for acquisition of Nigerian Upstream Oil and Gas Business of ConocoPhillips 18-04-2014
Total discovers oil in deep offshore Ivory Coast 18-04-2014
McDermott Signs Agreement for North Sea Spoolbase 18-04-2014
Atlas Oil to Sell BP branded assets in Chicago and NW Indiana 18-04-2014
MetroGas forms powerful consortium to address Miami-Dade County energy needs 18-04-2014
TruStar Energy announces grand opening of city furniture CNG fueling station 18-04-2014
Gastar Exploration begins drilling new well in Utica Shale 17-04-2014
Osiris Projects nearing completion of the ambitious works on the subsea cabling project which will help deliver fast, fibre optic broadband to the H 17-04-2014
Corlena Oil Company II, LLC to sell horizontal Texas Panhandle properties 17-04-2014
Xylem’s Godwin pumps restore critical operations at flooded oil refinery in Argentina 17-04-2014