WASHINGTON (dpa-AFX) - Helix Energy Solutions Group (HLX) said Monday that oil was discovered at the Danny II exploration well at the Bushwood Field located in Garden Banks Block 506, about 145 miles offshore from Galveston, Texas.
Helix said the Danny II exploration well encountered more than 70 feet of high quality net pay.
First production from Danny II is expected in the fourth quarter of 2012.
Helix holds a 50% working interest in the exploration well jointly with Deep Gulf Energy LP (Operator) and Deep Gulf Energy II, LLC (both First Reserve Corporation and Quintana Capital backed entities), who own the other 50% working interest.
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