Covington, LA – April 26, 2018 – LLOG Exploration Offshore, L.L.C. (“LLOG” or the “Company”) today announced that it has been named operator of the Shenandoah discovery in the Gulf of Mexico (GOM).
Affiliates of LLOG, as well as affiliates of Navitas Petroleum US and Beacon Offshore Energy have agreed to acquire a 70% working interest in the Shenandoah Unit covering Walker Ridge Blocks 51, 52 and the north half of 53 in the Deepwater GOM. Venari Resources LLC will increase its working interest from 17% to 30%. Shenandoah was discovered in 2011 with Anadarko Petroleum Corporation as the operator; six wells with multiple sidetracks have been drilled since the initial discovery.
Scott Gutterman, LLOG’s President and Chief Executive Officer commented, “We are very pleased to be named operator of the Shenandoah unit and participate in the development of this large discovery which we believe has meaningful upside potential. We envision a multi-well, multistage development, including a new Floating Production System (FPS). We believe our commitment to safety, proven history of efficient operations, and nearly 20 years of Deepwater GOM experience will allow us to safely and effectively operate the Shenandoah Unit. Our strong track record of success should allow us to efficiently develop this 100 to 400 million barrels of oil equivalent discovery and add significant value to all of our partners.”
LLOG has submitted a request for Suspension of Production (SOP) with the Bureau of Safety and Environmental Enforcement. The transaction outlined above is contingent upon government approval of the assignments of interests and the SOP.
About the Company
LLOG Exploration Company, L.L.C. is one of the largest privately-owned exploration and production companies in the United States. LLOG’s corporate headquarters is in Covington, Louisiana, and the Company has an office in Houston, Texas.
