Byron strikes oil in Gulf of Mexico

USA

PERTH, December 28, 2017 – US player Byron Energy has struck net oil deposits of approximately 58 metres in a Gulf of Mexico well, Australian partner Otto Energy announced on Wednesday.

“The SM71 F2 well has delivered a result that has significantly exceeded the joint ventures pre-drill expectations in both the B65 and D5 zones,” said Matthew Allen, Otto Energy’s managing director, in a statement. “The incremental oil volumes that will be added to this development are very high-value, as the joint venture has already installed its own production platform facilities.”

Each of the two partners holds a 50% working interest in the South Marsh Island 71 lease where the well was drilled, the statement added.

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