Sign up Australia
Proactive Investors - Run By Investors For Investors

Grand Gulf Energy secures Yellowfin gas project in Louisiana

The new Yellowfin Project is estimated to host 1.4Tcf of gas. It is located next to Freeport McMoran’s Highlander Jeanerette-1 Discovery that flowed at 75MMcfd during testing.
Grand Gulf Energy secures Yellowfin gas project in Louisiana

Grand Gulf Energy (ASX:GGE) has secured leases over the Yellowfin Project in Assumption Parish, Louisiana, that has received substantial interest from larger companies.

Yellowfin is a significantly large feature of similar size to the adjacent Freeport McMoran’s (NYSE:FCX) Highlander Jeanerette-1 Discovery.
   
The Freeport McMoran well was recently tested with expanded facilities at 75 million cubic feet of gas per day and nearing finalised facilities prior to sales.

Both Yellowfin and Freeport’ well are characterised by and analogous to the sub-salt, compressional structural style and sand depositional setting as the ultra-deep offshore deep water sub-salt play and discoveries being developed by the major oil companies.

GGE has estimated Yellowfin to host 1.4 trillion cubic feet of gas assuming an average of 2,000ft relief over 5,200 acres.

The location offers significant cost reduction and surface infrastructure to facilitate bringing the project to market.

With success, the project offers long life reserves, high rate deliverability and significant oil and natural gas liquid potential to provide substantial impact on the company.

The prospect is currently being marketed to industry and will likely be operated by a large US Gulf of Mexico oil and gas Company.

It was developed in house using the company’s proprietary 52 square mile 3D seismic survey.

Existing Production

GGE had net production of 18,075 barrels of oil and 18.8 million cubic feet of gas in the December Quarter 2014 from its producing projects.

This generated gross revenue of $1.94 million.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

View full GGE profile View Profile

Grand Gulf Energy Timeline

Related Articles

oil wells
July 13 2018
Columbus’s own production averaged 553 barrels per day over the quarter to June
Greka drilling rig truck
January 29 2018
"With firm drilling contracts signed with state owned enterprises, we start 2018 with a materially stronger foundation than last year”
oil and gas operations
February 26 2018
"This fundraise will represent another major step forward for Chariot, and one which allows the company to participate in two giant-scale wells in this calendar year"

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use