Noble Energy brings Gulf of Mexico oil field to production
- Business & Finance
Noble Energy’s Big Bend oil development in the deepwater Gulf of Mexico started production on October 26, 2015.
According to the company, the single-well field is ramping as expected and is anticipated to reach a maximum gross production rate of approximately 20 thousand barrels of oil equivalent per day (MBoe/d) over the next couple of weeks.
Approximately 90 percent of the volumes being produced are oil. In addition, the Company has continued to accelerate the Dantzler development and now expects first production from the Dantzler field by early November.
Big Bend and Dantzler, located in Mississippi Canyon 698 and 782, respectively, are subsea tiebacks to the third-party Thunder Hawk production facility. Combined, the fields are estimated to contribute a maximum net production rate of 20 MBoe/d to Noble Energy.
Gary W. Willingham, Noble Energy’s Executive Vice President of Operations, said, “We continue to build on our strong track record of major project execution with Big Bend coming online less than three years from discovery and within our sanctioned budget. Big Bend is the first of three major projects planned to come online for us in the Gulf of Mexico over the next nine months, contributing significant oil production and cash flow to the business. Short cycle times to first production, strong well deliverability, and low production costs from our Gulf of Mexico projects deliver attractive returns even in today’s environment.”
Noble Energy operates Big Bend with a 54 percent working interest. Other interest owners are W & T Energy VI, LLC (a wholly owned subsidiary of W & T Offshore Inc.) with 20 percent, Red Willow Offshore, LLC with 15.4 percent and Houston Energy Deepwater Ventures V, LLC with 10.6 percent.
The Company is also the operator of Dantzler with a 45 percent working interest. Partners include Ridgewood Energy Corporation (including ILX Holdings II, LLC a portfolio company of Riverstone Holdings, LLC) with 35 percent working interest and W & T Energy VI, LLC with 20 percent.