The Canoe exploration well (Vermillion Block 378 No. 1, OCS-G-35589) is located in 310 feet of water and is permitted to a measured depth (MD) of 6,249 feet and 6,132 feet true vertical depth (TVD). The well is designed to test multiple seismic amplitudes that correlate to productive zones in nearby producing fields utilizing the Rowan Ralph Coffman jack-up drilling rig. Drilling operations are expected to take approximately 15 days to complete. If successful, this initial above-salt prospect will be evaluated for various development options.
Immediately following drilling of the Canoe well, the rig will be moved to drill the initial exploration well on the Tau Prospect on Ship Shoal Area, South Addition Blocks 336/351. Tau will be permitted to 29,641’ MD and 26,000’ TVD targeting multiple formations trapped in a sub-salt setting. The exploration plan for Tau was recently approved by the BOEM and the Operator anticipates receiving an approved permit to drill shortly.
The Canoe and Tau Prospects were developed by GulfSlope Energy as part of a nine prospect, twelve block program in which Texas South currently has ownership interests ranging from 5% to 20%.
