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BP Exploration & Production Inc., the Houston-based subsidiary of BP Plc, retained EnergyNet to sell an offshore overriding royalty interest (ORRI) package in the U.S. Gulf of Mexico through a sealed-bid offering.
The offer includes interest in nine total properties covering 19 leases with 22 total payors. For 2017, the properties' total net production was about 400,000 barrels of oil and 300 MMcf of gas. Total net revenue from the assets for 2017 was roughly $20.4 million.
Operators include Anadarko US Offshore LLC, Cantium LLC, Deep Gulf Energy III LLC, Energy XXI GOM LLC, Fieldwood Energy LLC, Renaissance Offshore LLC and Shell Offshore Inc., according to the U.S. Bureau of Ocean Management serial register page.
Package Includes:
- Lucius Field Operated by Anadarko Petroleum (Source: Wood Mackenzie - June 2018)
- Recoverable Reserves (p+p): 261 Million Barrels of Oil + 275 Bcf of Sales Gas
- Estimated IP Rates Range From 14,000 to 20,000 boe/d
- Nine well development tie back to a truss spar floating production facility (eight of nine wells online)
- Late-life sidetracks and/or recompletion program to follow
- Stones Field Operated by Royal Dutch Shell (Source: Wood Mackenzie - June 2018)
- Recoverable Reserves (p+p): 194 Million Barrels of Oil plus 29 Bcf of Sales Gas
- Estimated IP Rates Range From 14,000 to 16,000 boe/d
- Eight well development tied back to an FPSO vessel (six of eight wells online)
Bids are due by 4 p.m. CST Aug. 15. The sale is expected to close Sept. 14 with an effective date of Jan. 1, 2018.
For questions or additional data requests contact Chris Atherton, president of EnergyNet, at Chris.Atherton@energynet.com or 832-654-6612 and Cody Felton, vice president of business development for EnergyNet, at Cody.Felton@energynet.com or 281-221-3042.