Intrepid Drilling has staked a 15,400' test well in South Lake Charles Field, Section 19, Township 11 South, Range 8 West, Calcasieu Parish, Louisiana.  This prospect is located 7 miles south of the city of Lake Charles, Louisiana.  It is a middle ogliocene age geo-pressured prospect located in the middle and lower hackberry sands.  Reserve potential for this prospect exceeds 60 BCFG (billion cubic feet of gas) and 4 MMBO (million barrels of oil). 

Intrepid Drilling has commenced production of its Alvin Pierce No. 1 well in Lafourche Parish, Louisiana. The well was completed in the Textularia W9 sand at 13,268 feet and tested 3.3 million cubic feet of gas per day and 500 barrels condensate per day with 6,100 psi flowing tubing pressure on a 12/64-inch choke.  There are two additional productive zones behind pipe.

Intrepid Drilling has completed its Alvin Pierce #1 well in Lafourche Parish, Louisiana. The company drilled to a depth of 13,357 feet and logged an additional 27 feet of oil pay full to base in the Tex   W-9 interval at 13,254', a new field discovery.  This interval was completed and tested through perforations 13,268' to 13,280' at a rate of 500 BOPD and 3300 MCFG with a flowing tubing pressure of 6200 psi on a 12/64 choke.  Additionally, two other pay zones were identified up the hole in the Tex W-7 and the Tex W-8.  Intrepid drilled this untested fault block west of the prolific Cut Off Field based on recently acquired 3D data. The company plans to drill at least two more wells in the area.

Intrepid Drilling has drilled to a total depth of 13,357 feet and has logged additional pay in our Alvin Pierce #1 Well in Lafourche Parish, Louisiana and discovered an additional Tex W-9 sand at 13,257 feet with approximately 24 feet of net pay full to base. A rough estimate of reserves would be 24 feet x 200 acres x 500 barrels per acre foot = 2.4 million barrels for this sand in addition to the 35 feet of net pay discovered in the Tex W-7 interval. We have concluded that we have the potential for 2+ million barrels in the Tex W-7, a productive gas/oil sand in the Tex W-8, and 2+ million barrels in the Tex W-9.

Intrepid has set intermediate 7 1/2 inch casing to 12,990 feet on our Alvin Pierce #1 well in West Cut Off, Louisiana. We drilled to a depth of 13,025 feet and logged 35 feet of oil pay full to base in the Tex W-7 interval. The top of the Tex W-8 was penetrated but not drilled through due to excess pressure and gas flow which required 12.2 pound mud to stabilize.

We drilled this untested fault block west of the prolific Cut Off Field based on recently acquired 3-D data. We plan to resume drilling through the Tex W-8 and test the UL-1 interval at approximately 13,450 feet. A future well will be drilled to the deeper UL-2 interval.

Nabors Rig #729 has rigged-up on location in West Cut Off, Louisiana and we spudded the Alvin Pierce #1 on Wednesday,  April 6, 2011.  You can view this drilling prospect live in the project section and watch as we drill. Drilling should take approximately three weeks.