Question-and-Answer Session
Operator
(Operator instructions) Your first question comes from the line of David Heikkinen of Tudor, Pickering, Holt.
David Heikkinen – Tudor, Pickering, Holt & Co.
Scott and Winston I'll say hi to everybody. As you look at CapEx exposed for your three exploratory wells in the Gulf of Mexico, can you give us dry hole costs net to PXP?
Jim Flores
Yes, David, we'll total all that up for you in just a second. Give us another question on that.
David Heikkinen – Tudor, Pickering, Holt & Co.
I really wanted to look at the resource potential on each of those and then some details or thoughts on what you are thinking on Blueberry Hill from a discovery and what the implications of the sidetrack could be?
Scott Winters
Okay. On our presentation, on page 24, we’ve got detail of net reserve potential, Davy Jones of 50 million barrels a drilling at this point; Lucius 70 million barrels net to PXP; and Rickenbacker, plus 100 million barrels, about 200 million, 220 million barrels net to us. Doss is filling out the exact cost for you. And Blueberry Hill, talking about that a second, the first well – getting the first well down, we reentered the old Blueberry Hill well saving costs of sidetrack and made a discovery, had some well problems as some different pressure regimes and the sand showed up that we didn’t foresee it, whatever.
So the drilling was a little more complicated than we thought, not in a bad way, actually in a good way because we are running into lower pressure and actually that’s better sand conditions, better productivity conditions than what we have planned. So what we did is the third sidetrack was basically to sidetrack to a good production position just for the Gyro #1. As you recall when we drill the initial well on the first sidetrack we found some deeper Gyro sands with so [ph], so we are really excited about the second well, the well to the south, which is going to be drilling out a straight hole and try to get as deep as we can through the whole Gyro section.
What excites on the potential here is that we are seeing a geologic setting where we’ve got a high-pressure shale plugged to the east and we are seeing lower pressure sand rich environment to the west and that’s where we are drilling the wells. And it correlates with one of our earlier wells we drilled, Tom Sauk, that was a dry hole to the north but it had a tremendous amount of sand all the way through the Gyro section, and it was in the same pressure regime. So we are very pleased with Blueberry Hill at this point, David, to be a nice production add to our Flatrock complex. We will be very curious to see what happens on the # 2 well, whether it becomes something of Flatrock status. So it’s still stay tuned there. But in the mean time, we are making some money with the production out there that we'll get out of the number 1 well.
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