The Buckskin deepwater oilfield, which spans over six blocks in Keathley Canyon, is contained in nearly 6,800ft of water depth
Image: The Buckskin oilfield is located in the US Gulf of Mexico, about 305.7km south-east of Houston. Photo: courtesy of Repsol.
LLOG Exploration and its partners have started production from the Buckskin oilfield located in deepwater US Gulf of Mexico (GOM), ahead of schedule while achieving a cost reduction of 60% from the original development plans.
The Buckskin deepwater oilfield is spread over the Keathley Canyon blocks 785, 828, 829, 830, 871 and 872 in nearly 6,800ft of water. The offshore field, which is located about 305.7km south-east of Houston, is estimated to hold nearly five billion barrels of oil in place.
Buckskin oilfield development
The initial phase of the field’s development included drilling of two wells in Keathley Canyon 829 and a 9.65km subsea tieback to the platform of the Lucius Deepwater Oil and Gas Project at Keathley Canyon 875.
LLOG and its partners started development drilling operations in January 2018 and completed the initial two wells in the same year, drilling them to nearly 29,000ft. Installation of subsea facilities needed for the tieback to the Lucius platform was wrapped up this year.
LLOG president and CEO Philip LeJeune said: “The initiation of production at Buckskin marks a significant milestone for LLOG considering the scope of the field and its position as our first deepwater development in the Lower Tertiary trend.
“The successful execution of this project perfectly illustrates one of LLOG’s key strengths which is the ability to create significant value by reducing cycle times and introducing development efficiencies to world class assets.”
LLOG said that after being fully established, the phase one production rate at the Buckskin oilfield is expected to be 30,000 gross barrels of oil per day. The Texas-based oil and gas firm said that additional phases of development will be needed to fully exploit the reserves of the Buckskin deepwater oilfield.
In this connection, the company and its partners will be exploring additional opportunities in the Lower Tertiary. LLOG has plans to start drilling of a delineation well this month at the Leon discovery with an aim to bring it on stream in the near future.
LLOG and its affiliate companies have a combined stake of 33.8% in the Buckskin oilfield. Other partners are Repsol E&P USA (22.5%), Beacon Offshore Energy Buckskin (18.7%), Navitas Buckskin US (7.5%), and Ridgewood Energy 1 (17.50%).
Repsol, in a statement, said: “The achievement is a successful demonstration of lean operations that the company has rolled out globally to increase the efficiency of exploration and production projects through the use of technology, capital and cost discipline, standardized procedures and synergies with partners, building a long-term sustainable business regardless of the volatility of oil and gas prices.”