In its 2008 annual report, Mariner Energy paints a detailed picture of Vermilion Oil Rig 380, its shallow water rig that exploded off the coast of Louisiana today.
According to the report:
Our largest field in the Gulf of Mexico Shelf by reserves is Vermilion 380. At year-end 2008, estimated proved reserves attributed to this field were 33.1 Bcfe [billions of cubic feet], consisting of approximately 50% oil and 50% natural gas. During 2008, we drilled three wells and completed one well before Hurricane Ike damaged the platform. Hurricane Ike also interrupted the drilling of a fourth well. Remaining development involves finishing the drilling of the fourth well, drilling a fifth well and completing the remaining wells. We anticipate that production from the five new wells will commence by third quarter 2009. The field currently has two producing wells (one of which is the new well we drilled and completed in 2008) in 340 feet of water. These two wells produced approximately 0.5 Bcfe in 2008.
According to the company’s 2009 annual report, Marine Energy holds a 100 percent working interest in Vermilion 380. The rig produced 1.1 Bcfe total in 2009. Its total proved reserves are 33.3 Bcfe, which is made up of 47 percent oil and 53 percent natural gas.
