|Lake Washington Field History
The Lake Washington field is one of two fields in our Southeast Louisiana core area of operations. Located in the northwest corner of Plaquemines Parish, it is an inland-water field that produces oil and natural gas liquids from multiple stacked Miocene sand layers radiating outward and downward from the surface of a centrally located salt dome. Drilling and completion operations in the field, which is highly faulted, are conducted from barge-based rigs. We acquired our first properties in the field in 2001, purchasing additional reserves in 2006. Our early wells were drilled to depths of approximately 6,000 feet, but after 2004, when we conducted a three-dimensional seismic survey over the field and subsequently developed a proprietary geoscience database over 700 square miles, we began drilling to depths exceeding 16,000 feet. Lake Washington has undergone significant infrastructure development, both before and following extensive damage from Hurricane Katrina, including the addition of a new production processing facility in mid-2008.
Following the collapse of commodity prices in 2008 and our subsequent focus on horizontal drilling in South Texas, we have deferred drilling deeper wells in Lake Washington and instead have conducted a production optimization program that consists of drilling shallow to medium-depth wells, performing recompletions, implementing sliding sleeve changes, and carrying out numerous other operational activities to maintain the field's production level. In 2013, we performed 17 recompletions and numerous production enhancement operations. We expect to perform up to 20 recompletions at Lake Washington during 2014.
During 2013, we drilled two development wells in Lake Washington, one of which was a dry hole. At year-end we had 44 proved undeveloped locations in this field.
As of December 31, 2013, we owned drilling and production rights in 16,697 net acres in Lake Washington, and our year-end 2013 proved reserves in the field totaled 12.0 MMBoe, with approximately 92% consisting of oil and natural gas liquids.
In 2013, we commenced the application of advanced inversion techniques to identify new drilling opportunities around the Lake Washington salt dome. We will be reprocessing our proprietary three-dimensional seismic data to help identify additional unevaluated development potential in this field.
February 27, 2014: PRESS RELEASE. During the fourth quarter 2013, we continued our ongoing recompletion and production optimization program in our Lake Washington field, performing 8 recompletions and 12 production optimization projects. We expect to perform up to 20 recompletions at Lake Washington during 2014.
March 3, 2014: FORM 10-K. As of December 31, 2013, we owned drilling and production rights in 16,697 net acres in the Lake Washington field located in Plaquemines Parish. At year-end 2013, approximately 92% of our proved reserves of 12.0 MMBoe in this field consisted of oil and natural gas liquids.
In 2013, we drilled 2 development wells in the Lake Washington field of which one was a dry hole. In our production optimization program, we performed 17 recompletions and numerous production enhancement operations including sliding sleeve changes, gas lift modifications, and well stimulations. At December 31, 2013, we had 44 proved undeveloped locations in Lake Washington.
We are utilizing state of the art geoscience technologies to better define the undeveloped resources in the field. We will be reprocessing our proprietary 3D seismic data with the help of these new tools and expect to identify additional unevaluated development potential in this field.
For additional information, please see the latest Form 10-K and Form 10-Q.