Leni Oil & Gas to begin drilling in Gulf of Mexico

 
Leni Gas & Oil has announced that with the imminent arrival of the Ocean Columbia jack-up rig, drilling on the Eugene Island field in the Gulf of Mexico. Leni holds a 7.25% working interest in the Marlin Energy operated field. The drilling programme is to begin with the existing A-2 well sidetrack, the A-2ST01 which is expected to yield mean recoverable reserves of 0.5 million barrels within the Tex-X2 target level. The well will also test the deeper Tex-X3 reservoir and both reservoirs are productive in other wells. A total of 16 days has been estimated for evaluation and drilling and a net cost of drilling, logging and evaluation will be an initial USD280,000. Any incremental production should be realized quickly with a short payback period on the investment.
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