Affiliates of LLOG, Navitas Petroleum US, and Beacon Offshore Energy have agreed to acquire a 70% working interest in the Shenandoah unit covering Walker Ridge blocks 51, 52, and the north half of 53 in the deepwater GoM.
Venari Resources LLC will increase its working interest from 17% to 30%.
Shenandoah was discovered in 2009 withAnadarko Petroleum Corp. as the operator; six wells with multiple side tracks have been drilled since the initial discovery.
Scott Gutterman, LLOG’s president and CEO, said: “…We envision a multi-well, multi-stage development, including a new floating production system… Our strong track record of success should allow us to efficiently develop this 100- to 400-MMboe discovery and add significant value to all of our partners.”
LLOG has submitted a request for suspension of production (SOP) with the Bureau of Safety and Environmental Enforcement. The transaction outlined above is contingent upon government approval of the assignments of interests and the SOP.