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Area of Focus
LaBay Exploration Co., L.L.C., is a private oil and gas company developed to take advantage of exploration opportunities in the Gulf Coast regions of South Louisiana, Texas, and in the shallow waters of the Outer Continental Shelf (OCS). These regions, which have been largely written off by the major oil companies, are especially attractive due to the prolific sand development, existing infrastructure, and high quality seismic data available.
Recent History
In December of 2002, LaBay acquired options and subleases covering nearly 60,000 acres over several major producing structures including West Cote Blanche Bay, Bayou Sale, Horseshoe Bayou, and Rabbit Island, and subsequently obtained licenses over the 3D seismic surveys acquired over these areas in order to develop prospects. LaBay worked with Seismic Exchange Inc. to develop a seismic program to better image the deep exploration potential over its acreage position. Under this program, SEI reprocessed and merged existing seismic surveys at Rabbit Island, Bayou Sale, and East Lake Sand with newly acquired data in order to provide 250 square miles of data. In March of 2005, LaBay and an independent exploration company entered into the Rabbit Island Limited Partnership which was entered into to exploit the exploration potential of Rabbit Island Field with the new 3D Seismic Data.
The Rabbit Island Limited Partnership subsequently purchased the Chevron owned facilities and production on the crest of the Rabbit Island Dome and commenced a program of drilling new wells and reworking existing wells. After successfully completing 12 of its 14 well operations, the production in the field was sold in July of 2006.