Helix Announces BushWood Field Deepwater Discovery
Helix Energy Solutions Group, Inc. (NYSE: HLX) announced the discovery of additional hydrocarbons in an exploratory well (Bushwood #1) at the Bushwood Field located in Garden Banks Block 463, offshore Louisiana. The Bushwood #1 well was drilled to 25,271 feet total depth and logged approximately 260 feet of net hydrocarbons, including more than 150 feet of net pay found in the deeper exploratory section. The well was cased and is being abandoned temporarily for future completion of the deeper newly discovered zones. Helix participates in the well with a 35% working interest with joint owners Mariner Energy, Inc. (30% working interest and operator), Apache Corporation (20% working interest), Deep Gulf Energy II, LLC (10% working interest) and Deep Gulf Energy LP (5% working interest). The company expects this deeper pool discovery to be reflected in its year end reserve report. Helix Energy Solutions, headquartered in Houston, Texas, is an international offshore energy company that provides reservoir development solutions and other contracting services to the energy market as well as to its own oil and gas business unit. Helix's contracting services segment utilizes its vessels and offshore equipment that when applied with its methodologies reduce finding and development costs and cover the complete lifecycle of an offshore oil and gas field. Helix's oil and gas segment engages in prospect generation, exploration, development and production activities. Helix operates primarily in the Gulf of Mexico, North Sea, Asia Pacific and Middle East Regions.
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