Main Pass, Breton Sound
Saratoga Resources currently owns and operates approximately 10,820 gross/net acres in 10 fields, located in the transitional coastline in a protected in-bay environment on state leases of South-Eastern Louisiana. The fields are Breton Sound 18, Breton Sound 31, Breton Sound 32, Breton Sound 51, Lake Fortuna, Little Bay, Main Pass 25, Main Pass 46, Main Pass 47 and Main Pass 52. Saratoga has a 100% working interest in virtually all wells. These fields have a combined 40 gross/41 net productive wells. In addition to the producing wells, the Company also owns and operates 5 production platforms and over 100 miles of pipeline infrastructure. In addition to processing and transporting our own oil and gas, Saratoga gets some revenues from third parties to handle their products.
These fields are mostly combination structural/stratigraphic trap fields in the Middle Miocene trend that were discovered with 3-D seismic technology. The reservoir drive mechanisms are water drive and combination water drive/pressure depletion. Saratoga has licensed the entire SEI Breton Sound 3-D survey that covers approximately 400 square miles.
The Main Pass 46 Field is located in Plaquemines Parish, approximately 80 miles south‑southeast of New Orleans, Louisiana. The field is situated in approximately six feet of water, immediately north of Grand Bay Field. We are the operator with a 100% working interest and a net revenue interest ranging from 64% to 78%. The four existing state leases cover an estimated 1,663 gross/net acres and are all HBP. Facilities include a central platform and the 5 active wellbores associated with the field. All of the 11 proved undeveloped opportunities in 3 proposed new wellbores are located within Grand Bay State Lease 195. The field is a faulted anticlinal structure with outlying stratigraphic traps. There are multiple stacked reservoirs within the field. The Main Pass 46 Field is covered by the 90 square mile proprietary 3-D Grand Bay survey.
We hold interests in nine other fields, all of which are located in shallow waters on state leases in Plaquemines, St. Bernard and St. Mary parishes of southern Louisiana, with working interests ranging from 40% to 100%. Our net revenue interests in these fields range from 31% to 88%, except for Breton Sound 31 Field, where we have a 36% net profit interest, and the Main Pass 47 Field, where we have a 7.5% overriding royalty interest in one producing well. The leases, which are mostly HBP, cover an estimated 11,112 gross acres (9,888 net).