Ann: F5-ST Bypass Well to be Completed as a Producing Well, page-45

The downhole pressures indicate that the original formation pressures have been greatly depleted .
Using the true vertical depth and the normal pressure gradient for the Gulf of Mexico the formation pressure for a non depleted reservoir would be in the order of 2990 psi at the TD of 6439 TVD .
Or at the perforations about 2940 psi where they measured a pressure of only 1019 psi .
So it almost certain that there has been depletion of that reservoir by previous production .
A virgin reservoir separate from previous production would have added to reserves .
Being in pressure communication with the F1 well they will manage the production of both wells to get the best financial result for the field .

The flow rates and depletion rates will tell us how successful this well has been .
If it is updip from F1 we will be accessing oil that could not be produced from F1.

I hope I have calculated properly because with a formation pressure of only 1019 psi they would probably need a down hole pump or gas lift to get the well to flow .
The pressure they measured seems low to me as the D5 sand from the previous production of the F3 and F1 wells obviously has a strong water drive .