The company announced yesterday that total net production from the operations had jumped to the current rate of 24.3 million cubic feet of gas equivalent (MMcfe) per day.
Vermilion 258 is currently producing at 19.3MMcfe of gas per day, which represents 16.1MMcfe of gas per day net to Petsec Energy.
The Vermilion 258 G-1 and G-2 wells drilled in December 2003 and January 2004, discovered an estimated 23 billion cubic feet of recoverable gas.
The G-1 well intersected 27m of net gas pay in six sands and the G-2 well intersected 13m of net gas pay in three sands. Both wells have been completed and are producing natural gas and some condensate.
Project costs for the production platform, facilities and pipeline with initial capacity of 45 MMcfe of gas per day, and two completed wells, were approximately US$16 million.
Vermilion 258 is located approximately 114km south of Vermilion Parish, Offshore Louisiana USA in the Gulf of Mexico with a water depth of about 42m.
