McMoRan Exploration Co. provided an update on the Davy Jones No. 1 workover currently in progress on South Marsh Island Block 230. As previously reported McMoRan successfully perforated 165 feet of Wilcox sands and on July 13 commenced operations to run production tubing.

Prior to removing the blow out preventer and installing the production tree, McMoRan performed a routine pressure test on the seal system, which indicated that the seal assembly located at approximately 16,400 feet needed to be replaced. McMoRan believes the seal assembly was impacted by the increased use of high density mud used in operations designed to suppress flow in the well.

Once the well is stable, McMoRan plans to install a production packer above a new seal assembly which would enable a double seal completion. As a result, the flow test previously anticipated during the week of July 30 is now expected to be conducted during the month of August 2012.

Tags: McMoRan Exploration Co.