Petsec has begun drilling at its Mystic Bayou Field.
Work on the 16,700 RA SUA Williams #2 alternate well in Louisiana started earlier this week.
The well is being drilled to a vertical depth of of 17,035 ft to test the oil and gas potential in Lower Miocene age Planulina sand reservoirs in a fault closure up-dip from production in the Planulina interval in Mystic Bayou Field.
The process will require a barge drilling rig and will take 53 days to drill and log.
Petsec has a 25% non-operating working interest in the well.
The firm’s share of drilling costs is estimated to be $1,600,000. Completion and hook-up of the well will cost around $850,000.