LLOG Exploration Provides Update on its Exploration Successes and Status of Development Projects

Covington, La., Sept. 26, 2017 (GLOBE NEWSWIRE) — LLOG Exploration Company L.L.C (“LLOG” or “the Company”), a privately-owned exploration and production company focused on the deepwater of the Gulf of Mexico (“GOM”), today provided a detailed update on its continued successful exploration program in the deepwater GOM and the status of several development projects currently underway or planned.   Key highlights of the program include:

  • Company announces development of six operated projects
  • Developments are the result of a successful 2016 and 2017 exploration program
  • Nine new deepwater oil wells to be brought online by the end of 2018
  • One well currently producing at greater than 12,000 BOPD, six additional wells have been completed, one completion in progress, and one well to be completed in 2018

Scott Gutterman, President and CEO of LLOG commented, “This latest series of deepwater discoveries represents a continuation of our successful exploration efforts over the past 20 years in the Gulf of Mexico for LLOG and our partners. These discoveries have been appraised by multiple wells and sidetracks.  With the majority of completion operations soon to be concluded for these discoveries, we are quickly turning these multiple exploratory drilling successes into production. We are proud of our team that continues to generate our multi-year exploratory success rate of over 70%, and particularly in 2016, when eight of nine exploratory wells drilled were successful.”

Gutterman continued, “Our strategy of generating deepwater prospects in areas of proven success and near existing infrastructure that can be drilled, developed and placed on production using our standardized approach to development allows us to generate strong returns in the current price environment.  We remain committed and enthusiastic about the deepwater Gulf of Mexico where we have an inventory of over 40 identified exploratory prospects to drill and develop.”

Additional Details on Program:

Mississippi Canyon 794:  Claiborne Discovery and Development

The Claiborne Discovery in Mississippi Canyon 794 is located in 1,500 feet of water and was drilled to a total depth of 24,000 feet and targeted multiple sub-salt, oil-bearing Miocene sands.  The discovery well was drilled by LLOG as operator in 2015 and was successfully appraised with a second well in late 2016.  Both wells have been completed and are being tied-back to the Walter-operated Coelacanth platform on Ewing Bank 834.  First production is expected in mid-2018.  LLOG’s partners in Claiborne are Ridgewood Energy(1), Red Willow Offshore, LLC, CL&F Offshore LLC, and Beacon Offshore Energy, LLC.

Mississippi Canyon 427/471:  LaFemme and Blue Wing Olive Discoveries and Development

The LaFemme Discovery in Mississippi Canyon 427 is located in 5,800 feet of water and was drilled to a total depth of 13,000 feet and targeted multiple Upper Miocene reservoirs. The discovery well was drilled by LLOG as operator in mid-2016 and encountered over 175 feet of net oil pay and was successfully appraised by a follow up well in late 2016.  Both wells have been completed and will be co-developed with the Blue Wing Olive discovery and tied back to the LLOG-operated Delta House facility on Mississippi Canyon 254. LLOG’s partners in LaFemme are Beacon Offshore Energy, LLC, Red Willow Offshore, LLC, Ridgewood Energy(1), and Houston Energy, L.P.

The Blue Wing Olive Discovery is located in Mississippi Canyon 427-471, also in 5,800 feet of water, and was drilled to a total depth of 17,000 feet and targeted multiple Upper Miocene zones. The discovery well was drilled by LLOG as operator in mid-2016 and will be completed in two oil and natural gas reservoirs.  LLOG is currently completing the Blue Wing Olive well. First production is expected in mid-2018 from both the LaFemme and Blue Wing Olive developments. LLOG’s partners in Blue Wing Olive are Beacon Offshore Energy, LLC, Red Willow Offshore, LLC, Ridgewood Energy(1), and Houston Energy L.P.

Mississippi Canyon 257:  Red Zinger Discovery and Development

The Red Zinger Discovery in Mississippi Canyon 257 is located in 6,000 feet of water and was drilled to a total depth of 19,000 feet and found multiple Upper Middle Miocene targets. The discovery well was drilled by LLOG as operator in 2016.  Red Zinger will be tied-back to the LLOG-operated Delta House facility.  First production is expected in the second half of 2018. LLOG’s partners in Red Zinger are Beacon Offshore Energy, LLC, Red Willow Offshore, LLC, and Ridgewood Energy(1).

Mississippi Canyon 301:  Marmalard East Field Extension

Marmalard East in Mississippi Canyon 301 is a field-extension well in 5,300 feet of water that was drilled and completed by LLOG as operator in the second quarter of 2017.  The well was drilled to a total depth of 18,000 feet and targeted Miocene sands and encountered over 50 feet of net oil pay.  The well was brought onto production through the Marmalard subsea infrastructure system to the LLOG-operated Delta House facility at a rate in excess of 12,000 BOPD.  LLOG owns a 69.6% working interest in the well. LLOG’s partners in Marmalard East are Red Willow Offshore, LLC, and Calypso Exploration, LLC.

Viosca Knoll 959/960/1003/1004:  Crown and Anchor Development

Crown & Anchor, a previously-announced two-well discovery in 4,200 feet of water in Viosca Knoll 959, 960, 1003 and 1004, was drilled by LLOG as operator in 2015 to a total depth of 14,000 feet targeting multiple Upper Miocene sands.  Both wells have been completed and will be tied back to the Anadarko-operated Marlin facility in Viosca Knoll 871 and 915.  First production is expected in the second quarter of 2018. LLOG’s partners in Crown and Anchor are Beacon Offshore Energy, LLC and Ridgewood Energy(1).

About LLOG

LLOG Exploration Company L.L.C. is the largest privately owned oil producer in the U.S. and one of the largest private producers in the Gulf of Mexico.  LLOG’s corporate headquarters is located in Covington, Louisiana and LLOG has an office in Houston, Texas.   For additional information, visit the Company’s website: www.llog.com

(1) Ridgewood Energy consists of entities managed by Ridgewood Energy (which includes Riverstone designated affiliates)

Contact: Eric Zimmermann

985-801-4300

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