HomeMy WebLinkAboutM1983-0278 - 05/18/19830 •
MOTIONS - 5/18/83
11. A letter of indemnity posted by El Paso Exploration Company be accepted
in lieu of a bond and they be granted a permit to drill a well from a
regular location in the Gulf of Mexico. The State Tract 894 Well No. 1 will
have a surface location 5,400 ft. seaward of the Fish Pass and will be
directionally drilled 2,012 ft. toward shore to a depth of 9,000 ft. The
letter of indemnity reflects a net worth in excess of $20,000,000 and the
Gulf Drilling Ordinance authorizes the Council to accept such indemnity
agreements in lieu of a $200,000 bond. No exceptions to the Gulf Drilling
Ordinance are requested.
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