|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.
As of December 31, 2012, we owned drilling and production rights in 15,231 net acres in Lake Washington. Our year-end 2012 proved reserves in the field totaled 12.5 MMBoe, with approximately 92% consisting of oil and natural gas liquids. During 2012, we drilled 10 development wells and conducted numerous production enhancement operations in Lake Washington, and at year-end we had 53 proved undeveloped locations. In 2013, we will reduce our capital expenditures in the field but plan to drill three wells and perform recompletions on approximately 12 wells. We are also preparing to drill a sub-salt well in Lake Washington in the future.
October 31, 2013: PRESS RELEASE. In our Southeast Louisiana core area, we continued our ongoing recompletion and production optimization program in the Lake Washington field in Plaquemines Parish, performing six recompletions and 17 production optimization projects during the third quarter.
October 31, 2013: 2013 THIRD QUARTER FORM 10-Q. In our Southeast Louisiana core area during the first nine months of 2013, we drilled two wells in the Lake Washington field in Plaquemines Parish, one of which was a dry hole.
We are utilizing state of the art geoscience technologies to better define our undeveloped resource potential in the Lake Washington field. We have applied new state of the art tools to better define the undeveloped resources in the field. We will be reprocessing our proprietary three-dimensional seismic data for that area with the help of these new tools and expect to identify additional unevaluated development potential in that field.
August 1, 2013: PRESS RELEASE. In the Lake Washington field in Plaquemines Parish, LA, we continued our ongoing recompletion and production optimization program, performing two recompletions and 24 production optimization projects during the quarter.
Also in Lake Washington, we drilled the LL&E #6 well (Jelly Bowl prospect), but it encountered more complex geologic conditions during drilling operations than had been expected. As a result, we have temporarily abandoned the well and will collect additional data to assess the potential to re-enter or re-drill the well at a later date. The expected 2013 production contribution of this well was approximately 110,000 barrels of oil equivalent.
May 2, 2013: PRESS RELEASE. In the Lake Washington field in Plaquemines Parish, Louisiana, the company continued its ongoing recompletion and production optimization program, performing one recompletion and 22 production optimization projects during the quarter.
In the Lake Washington field, the BLD CM 21, drilled to a measured depth of 6,441 feet and encountering 150 feet of true vertical pay, was recently completed and tested at initial test rates of 667 barrels of oil and 0.5 MMcf of natural gas gas per day with flowing tubing pressure of 580 psi on a 26/64-inch choke.
March 14, 2013: PRESS RELEASE. In our Lake Washington field, the CM 428 was recently completed and tested at initial test rates of 432 barrels of oil and 0.2 MMcf of natural gas per day with flowing tubing pressure of 360 psi on a 24/64-inch choke.
The BLD CM 21 well was recently drilled to a measured depth of 6,441 feet and encountered 150 feet of true vertical pay.
We currently have one drilling rig active in the Lake Washington field.
March 1, 2013: PRESS RELEASE. Swift Energy Company announced that as of 3:12 p.m., Thursday, it had brought under control an outflow of water, oil and natural gas resulting from a marine vessel collision with a Swift Energy operated shut-in well head in the shallow waters of its Lake Washington field in Plaquemines Parish, Louisiana, which had occurred at approximately 7:00 p.m., Tuesday, February 26.
The Company worked with and appreciates the assistance from numerous federal, state and local agencies, which include the United States Coast Guard, Louisiana Oil Spill Coordinators Office, Louisiana Department of Environmental Quality, Louisiana Department of Wildlife and Fisheries, Louisiana Department of Natural Resources and Plaquemines Parish to resolve this incident in a safe, timely and efficient manner.
February 27, 2013: PRESS RELEASE. A well control incident occurred in our Lake Washington field in Plaquemines Parish, Louisiana, at approximately 7:00 pm Tuesday, February 26, when a marine vessel collided with a Swift Energy operated shut-in wellhead in shallow waters. This collision damaged the integrity of the wellhead and resulted in an outflow of water, oil and natural gas. Swift Energy’s Incident Command Team was activated and responded to the situation during the night. At this time, the well appears to be releasing primarily water and a small amount of oil. A definitive determination of oil volumes is difficult to measure currently due to the high ratio of water production. Once the company's containment and repair plan is executed and the well is controlled, a more accurate assessment and estimate of volumes from this incident will be made.
February 21, 2013: PRESS RELEASE. In fourth quarter 2012 in our Lake Washington field in Plaquemines Parish, we drilled two wells that are scheduled to be completed during first quarter 2013. The CM 424 was drilled to a measured depth of 8,095 feet and encountered 14 feet of true vertical pay; the CM 428 was drilled to a measured depth of 3,445 feet and encountered 47 feet of true vertical pay.
We continued our ongoing recompletion and production optimization program in our Lake Washington field, with an average initial production response of approximately 391 gross Boe per day per well for five recompletions and approximately 98 gross Boe per day per well for 20 production optimization projects.
During fourth quarter 2012, four Lake Washington wells experienced unexpected increases in water production, significantly reducing their performance and impacting field-wide production levels. Lake Washington averaged production of approximately 6,200 net barrels of oil equivalent per day in fourth quarter 2012. In January 2013, the field averaged production of approximately 4,700 net barrels of oil equivalent per day. Lower base production levels from the reduced performance of these wells affected our production expectations from Lake Washington and are reflected in our 2013 production forecast.
There is currently one operated rig drilling in our Lake Washington field.
We are also planning to drill a sub-salt well in our Lake Washington field within 24 months.
February 22, 2013: FORM 10-K. As of December 31, 2012, we owned drilling and production rights in 15,231 net acres in the Lake Washington field located in Plaquemines Parish. At year-end 2012, approximately 92% of our proved reserves of 12.5 MMBoe in this field consisted of oil and natural gas liquids.
In 2012, we drilled 10 development wells in the Lake Washington field. In our production optimization program, we performed 20 recompletions and numerous production enhancement operations including sliding sleeve changes, gas lift modifications, and well stimulations. At December 31, 2012, we had 53 proved undeveloped locations in Lake Washington. We will reduce our planned 2013 capital expenditures in the field but plan to drill three wells and perform recompletions on approximately 12 wells.
For additional information, please see the latest Form 10-K and Form 10-Q.