In this blog a few days ago, I wrote about Jim Bob Moffett, major domo of McMoRan Exploration Co., who spoke in Houston on the big Davy Jones find on the shallow-water shelf.

In the blog, I quoted Mr. Moffett as saying, “Porosities are 13% to 22%. You get different readings from different logs. But downdip, the porosities go to hell, so we have a lot to learn. The challenge starts now. This looks a lot like the fields we drilled when we were young.”

Seems I tripped up a bit here and so, I'd like to apologize and make it right. According to MMR spokesman Bill Collier: "The first two sentences are specific to the initial results McMoRan has obtained on Davy Jones thus far [big porosities and yet, different readings from different logs employed]."

"But, the third sentence [downdip] was a general comment about porosity based on our experience working shallower fields. Because we have only drilled one well, we do not know what the porosities are downdip at Davy Jones at this time."

Indeed, McMoRan intends to spud a second well later this year, and to flow-test the disocvery as well.

Collier goes on to say: "Our experience from analyzing shallower fields suggests that porosities are preserved updip in hydrocarbon columns where water cannot compromise the rock porosity. Downdip, when water occurs in the pore space, 'diagenesis' (a change in mineralogy caused by fluids migrating through the pore spaces with precipitation of minerals in the pores) can come into play, which can cause a reduction of porosity.

"As we stated in our January 11, 2010, press release, the zones encountered at Davy Jones are full to base, meaning we have not encountered a water level in the various zones encountered to date.

"We plan to commence drilling an offset delineation well at Davy Jones in the coming weeks. The important information to be gained from the flow test on the discovery well, results from the offset well, and future drilling will be vital as we continue to define the ultimate size and productive capabilities of this exciting discovery."

And there you have it. Everyone in the industry looks forward to the announcement of results from the flow test oif the first well later this tear, and from second, delineation well later on.

Leslie Haines