DeepExpro is an approved and qualified operator with the United States Department of Interior (USDOI), Minerals Management Service Gulf of Mexico (MMSGOM) Region.
DeepExpro and Blugrass Energy are currently focused on the acquisition of fields that have been bypassed by major oil companies as the majors have migrated their E&P focus to the deepwater Gulf of Mexico and overseas locations.
The company said that many of the fields lie in the near coast and shelf areas of the Gulf of Mexico spanning from the Mississippi coast to the Texas coast with several being identified as ‘fast track’ re-development options with proven reserves or potential reserves greater than 30BCFE and probable reserves greater that 500BCFE attributed to each candidate.
In exchange for 50% of the working interest and proportionate NRI in subject leases held by Blugrass Energy, DeepExpro will carry 50% of the current Blugrass Energy #1 well commitment to include site preparation, engineering, drilling, completion, tie in and construction of production infrastructure subject technical review of pre-rill data supporting well location and drilling and completion program.
Blugrass Energy and DeepExpro are currently evaluating an opportunity in the Gulf of Mexico, which anticipated production is estimated to be 2100bopd.
This proposal is subject to normal due diligence and the successful establishment of a mutually agreeable Joint Operating Agreement.
