The Perth-based company said the well reached total depth of 3628m on February 7 and logging while drilling (LWD) data did not indicate any further intervals of interest.

The well was then conditioned prior to open-hole logging and the logging unit and crew were mobilised.

“The joint venture partners have approved the operator’s request to plug and abandon the well,” GulfX said.

The well was drilled using the Pride Georgia jackup rig in water depth of 69m.

Through its participation in this well, GulfX is earning a 16.25% working interest in block SMI 138. Other major participants include Lion Energy, which is earning a 30% working interest in the field and Entek Energy with an 11.25% stake.

The next planned activity is to secure the well, prepare the rig for de-mobilisation and move off location, it said.

“Notwithstanding the outcome of this well, South Marsh Island block 138 is one of five offshore leases in the Gulf of Mexico that GulfX has an interest in,” the company said.

“These leases are at various levels of maturity and the directors anticipate further exploration activity in the near future.”