Gulf Coast Western Controls Blowout on Louisiana Gulf Coast Well Previously Drilled by Conoco Confirms Significant Flow Rates and Reserve Potential of More Than Two Million BOE Completion Activities Resume on Re-Entry Well Business Wire DALLAS -- May 27, 2014 Dallas-based Gulf Coast Western and its operating partner, Dallas-based Alpine Exploration Companies, Inc., confirmed that they have controlled a well blowout located in the Mallard Bay marshlands along the Southern Coast of Louisiana. They have resumed completion activities and expect to start production of their Mary O. Long #1 well, located in Cameron Parish, Louisiana in the next two weeks. Gulf Coast Western explores, develops, and acquires domestic oil and gas reserves primarily in the Gulf Coast region of the United States. The Mary O. Long #1 well was a re-entry of a proven oil/gas well drilled by Conoco nearly 30 years ago with multiple logged zones, but abandoned due to several factors at the time including low commodity pricing and the need to construct a production platform and pipeline. On March 3, 2014, the Mary O. Long #1 well experienced a blowout during completion activities in the Lower Alliance Sand at 12,420-60 feet. The well tested at extrapolated rates as high as 14,496 MCFGPD and 545 BOPD prior to the well being brought under control. In the future, Gulf Coast Western also expects to produce from the Planulina Sand located above the Lower Alliance, bringing the total production potential for the well to more than two million barrels of oil equivalent. “We have very high expectations for this well and are extremely pleased with the initial test results,” said Gulf Coast Western CEO Matthew H. Fleeger. “Upon re-entering the well, we encountered even greater pressures than those experienced by Conoco 30 years ago, and lost control of the well. We are pleased that Alpine was able to successfully get the well back under control and look forward to placing the well into production in the near future.” Gulf Coast Western maintains a strategy focused on acquiring interests in prospects and properties that have excellent geological and geophysical attributes in well-developed structures, which provide significant return potential with quantified downside risk for our participating partners. About Gulf Coast Western Gulf Coast Western, a Dallas-based company founded in 1970, is focused on the exploration, development, and acquisition of domestic oil and gas reserves in the Gulf Coast region, and has activities in Texas, Louisiana, Mississippi, Oklahoma, and Colorado. Gulf Coast Western serves as the Managing Venturer of Oil & Gas General Partnerships otherwise known as Joint Ventures. For more information, visit www.gulfcoastwestern.com. Contact: Granado Communications Group Vicki Granado, 214-599-8785 email@example.com
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Gulf Coast Western Controls Blowout on Louisiana Gulf Coast Well Previously Drilled by Conoco
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