Saratoga Resources, the independent E&P focused on their 52k plus gross/net acres on transitional coastline and in-bay territory (parish and state leases) down in Louisiana, as well as the shallow Gulf of Mexico Shelf, was excited to report the latest production and development news out of their Breton Sound Block 32 field today, including a progress update on the drilling program and results from the most recently tested well.
President of SARA, Andrew C. Clifford, pointed to successful completion of the Rocky well (SL 1227-25), which was spud in 13 feet of water to a depth of 6,254 feet (5,858 feet true vertical depth) on July 4 (with a 750-foot horizontal sidetrack going in just 20 days later), as a major milestone for the company. Test flows on Aug 20 showed a net of 508 BOEPD (600 bbls/day with 120 mcf/day at 600 psi on a 16/64 inch choke), with improving rates as the well has stabilized since completion and tie in back to the Breton Sound 32 platform, we have data points here that are extremely encouraging.
With final costs on the Rocky coming in well below the pre-development authorization for expenditure projections and the rig already pulled and moved to the Zeke well (Aug 3), this completion adds to an impressive track record in a resounding fashion. Four prior horizontal completions in the Breton 32 field already impressed the company with hydrocarbon recovery ranging from two and a half to three times higher than a vertical completion alone in the same reservoir. Similarly, initial production rates were as much as three times higher, with a better, longer run before any decline was observed.
Clifford emphasized the abundant potential for multiple, high-impact horizontal opportunities on identified targets at Breton 32 and in other fields, underscoring the impressive production rates from the aforementioned horizontal completions, particularly the ones in the Main Pass 25 field (Breton 32) and Grand Bay field (17.327k gross/net acres roughly 70 miles southeast of New Orleans).
The Zeke well (SL 1227-26) has subsequently been spud (Aug 5) and high-angle directional drilled to 6,430 feet (some 5,836 feet true vertical depth) in the eastern Breton 32. Completed in the same sand as the Rocky, the Zeke has a short reach horizontal section and the opportunity for an up-hole (about 50 feet) recompletion in another sand layer as well. Current status for the Zeke has SARA looking at completion and testing very shortly, with an end of August production target and eventual tie back to the platform thereafter if expectations are fulfilled.
SARA is already chomping at the bit to develop another opportunity after the Zeke, also in the Breton 32, called Charlie, as well as several other opportunities in the Grand Bay field.
For more info on Saratoga Resources, visit SaratogaResources.com
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