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LLOG Exploration Provides Operational Update on Development Projects and Discoveries

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COVINGTON, La., Sept. 04, 2018 (GLOBE NEWSWIRE) -- LLOG Exploration Company, L.L.C. ("LLOG" or "the Company"), a privately-owned exploration and production company focused on the deepwater Gulf of Mexico ("GOM"), today provided a detailed update on the status of its ongoing development projects and recent discoveries. Key highlights include:   

  • Successfully brought online two wells to-date in 2018, with six additional wells scheduled to be brought online prior to the end of the year
  • Achieved initial production from the two-well Crown & Anchor oil discovery in June which is producing at a combined gross rate of greater than 10,000 barrels of oil equivalent per day ("BOEPD")
  • Progressing several multi-well, multi-stage development projects as a result of prior exploratory successes

Philip LeJeune, President and CEO of LLOG, commented, "We are very pleased with the continued accomplishments that we have achieved at LLOG in the deepwater Gulf of Mexico. We expect 2018 to be a milestone year as we bring online a number of wells and move forward with additional development projects. Our strategy of generating deepwater prospects in areas of proven success and near existing infrastructure that can be drilled, developed and placed on production continues to serve us well and our standardized approach to development allows us to maintain a lower cost structure and generate faster cycle times."

Viosca Knoll 959, 960, 1003 and 1004: Crown & Anchor Development

Crown & Anchor, a previously-announced two-well oil 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 Miocene sands. The wells were tied back to the Anadarko-operated Marlin facility in Viosca Knoll 915, and both came online in early June and are producing at a combined rate in excess of 10,000 gross BOEPD. LLOG's partners in Crown & Anchor are Beacon Offshore Energy Operating LLC and Ridgewood Energy(1).

Green Canyon 345, 389, 390, 434 and 478: Khaleesi and Mormont Discoveries and Development

The Khaleesi and Mormont discoveries are located in the Green Canyon area and were successfully drilled by LLOG as operator in 2017 in approximately 3,900 feet of water to a total depth of as much as 30,625 feet. Each of the two discoveries has been delineated by two wells and a sidetrack that discovered multiple oil-bearing Miocene horizons. LLOG is currently working on plans for a co-development of these discoveries. Given the upside potential of the discoveries, the Company is evaluating the need for a new Floating Production System (FPS) to co-develop the fields. LLOG's partners in Khaleesi and Mormont are Ridgewood Energy(1), Red Willow Offshore, LLC, CL&F Offshore, LLC, and Houston Energy(2).

Keathley Canyon 785, 828, 829, 830, 871 and 872: Buckskin Development

Buckskin is located in approximately 6,800 feet of water and was delineated by multiple wells prior to 2018. The initial development phase of this large-scale project includes the drilling of two development wells to approximately 29,000 feet in Keathley Canyon 829 and a six-mile subsea tieback to the Anadarko operated Lucius FPS in Keathley Canyon 875. Both of these development wells were successfully drilled in 2018 by the Seadrill West Neptune drillship with LLOG as operator. Installation of subsea facilities will commence shortly, and first production from the field is expected in mid-2019. In order to fully develop the field, which is estimated to contain nearly five billion barrels of oil in place, additional wells and subsea facilities will be required after the initial phase. LLOG's partners are Repsol E&P USA Inc, Beacon Offshore Energy Buckskin LLC, Navitas Petroleum LP and Ridgewood Energy(1).

Viosca Knoll 999: Stonefly Discovery and Development

The development of the Stonefly discovery has been sanctioned by LLOG and its partners. LLOG successfully drilled two wells at Stonefly including the discovery well in 2016 and a follow up well in 2017, both of which encountered oil-bearing sands in the Middle Miocene. Subsea tieback for the two wells to the nearby Ram Powell platform owned by Talos Energy is currently being planned with estimated first production around December of 2019. LLOG's partners in Stonefly are Beacon Offshore Energy Operating LLC, Houston Energy(2), Red Willow Offshore, LLC and Ridgewood Energy(1).

Mississippi Canyon 503: Who Dat Field

A subsea pump installation project has been approved by LLOG and its partner, Deepwater Development Company, to optimize reserves and accelerate production from its Who Dat Field. Installation of the subsea pump is expected to be completed in the second half of 2019 and to result in an increase in production rate of 3,000 BOPD and an increase in proved reserves of 7 - 10 million barrels of oil equivalent.

Additional LLOG Operated Discoveries to be Brought Online in 2018

LLOG has four previously-announced GOM discoveries (six wells) that are under development and are expected to be placed on production in 2018.

The LaFemme prospect in Mississippi Canyon 427 was discovered in mid-2016 and was successfully appraised by a follow up well in late 2016. The Blue Wing Olive prospect in Mississippi Canyon 427-471 was drilled in late 2016 with a discovery well encountering two oil and natural gas reservoirs in the Miocene. The Red Zinger prospect in Mississippi Canyon 257 was drilled in 2016 and found multiple Miocene targets. LaFemme, Blue Wing Olive and the Red Zinger wells are being tied-back to the LLOG-operated Delta House facility in Mississippi Canyon 254. LLOG's partners in LaFemme and Blue Wing Olive are Beacon Offshore Energy Operating, LLC, Red Willow Offshore, LLC, Ridgewood Energy(1), and Houston Energy. LLOG's partners in Red Zinger are Beacon Offshore Energy Operating, LLC, Red Willow Offshore, LLC, and Ridgewood Energy(1).

The Claiborne prospect in Mississippi Canyon 794 had a discovery well drilled in 2015 and was successfully appraised with a second well in late 2016. Both wells are being tied-back to the Walter-operated Coelacanth platform in Ewing Bank 834. LLOG's partners in Claiborne are Ridgewood Energy(1), Red Willow Offshore, LLC, and CL&F Offshore LLC, and Beacon Offshore Energy Operating, LLC.

About LLOG

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. For additional information, visit the Company's website at www.llog.com.

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

(2) Houston Energy consists of entities managed by Houston Energy L.P.

Contact:  Rick Fowler (rickf@llog.com)  985-801-4300

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