W&T Makes New Discovery in GoM

W&T Offshore, Inc. announced a new discovery at Ewing Banks 910 and first production from the SS #6 well at Mississippi Canyon Medusa field, both in the deepwater of the Gulf of Mexico. 

W&T made a new discovery at Ewing Banks 910 with the drilling and evaluation of the Ewing Banks 910 A-5 ST well.  The Company logged 160 feet of gross hydrocarbon interval and is currently completing the well.

“We expect recovery from the well to exceed our pre-drill estimates and we anticipate that the well could be online and flowing by the end of the second quarter,” the Company said in a press release.

W&T has a 50% working interest in this well.

The next well to be drilled at Ewing Banks 910 will be the A-8 exploration well, which based on seismic data, is estimated to be a significantly larger reserve target than the A-5 ST well.

The Company also announced that the recently drilled Medusa SS #6 well has been completed and achieved first production flowing at a gross rate of approximately 8,000 barrels of oil and 6 MMcf of natural gas for a combined total rate of 9,000 barrels of oil equivalent per day. A second extension well at Medusa, the SS #7 well, is currently being completed. W&T has a 15% working interest in the Medusa field.

W&T also provided an update on the status of the Big Bend and Dantzler deepwater development projects.

Three vessels are currently in the field, with one performing umbilical installation work, one conducting sea trials before the pipeline system is installed and another serving as a flotel for the preparation of the topside facilities at “Thunderhawk,” the host platform.

Production from Big Bend is expected to start in the fourth quarter of 2015 and production from Dantzler is now expected to start near the end of 2015. The anticipated combined rate from Big Bend and Dantzler is expected to reach in excess of 8,000 barrels of oil equivalent per day, net to our 20% working interest (81% oil).

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