Date: Wed, 19 Nov 1997 23:50:22 GMT Server: NCSA/1.5.2 Last-modified: Wed, 19 Nov 1997 16:55:08 GMT Content-type: text/html Content-length: 8113
![]() |
||||||||
![]() |
||||||||
![]() |
||||||||
|
||||||||
![]() |
||||||||
Texas Meridian Resources Corporation Announces Status of Operations
on its Deep Saline Prospect Houston, Texas - January 14, 1997 - Texas Meridian Resources Corporation
(TMR/AMEX) announced today that it has ceased operations on the
LL&E Fee #1 "Deep Saline" well. TMR took over operations from
Louisiana Land & Exploration Company (LLX/NYSE) on December 10,
1996 at a depth of 21,780 feet with the objective of deepening
the well to the extent necessary to penetrate the original target
horizon, the Duval sand. The Duval sand was encountered at 21,810
feet and contained more than 300 feet of gross sand interval.
Initial logging results indicated the presence of hydrocarbons
in the zone, but calculated porosities were insufficient to support
a completion attempt without further information. When the Company
attempted to run a Schlumberger formation testing tool to determine
the productive capability of the Duval sand, the tool became stuck
and the wireline conveying the tool parted. After extensive fishing
operations, the tool and over two thousand feet of wireline were
unable to be retrieved. Concurrent with fishing operations, the
Company conducted further detailed analysis of the electric log
data that, in the absence of data from the formation testing tool,
did not support the conclusion that expected producing rates and
reserve volumes would be adequate to justify the expense to complete
the well. Accordingly, TMR's management recommended to its partners
that the well be plugged and abandoned. FOR MORE INFORMATION CONTACT:
|