BP Agrees to Sell Pompano and Mica Assets to Stone Energy Offshore
HOUSTON - BP (NYSE: BP) announced Nov. 18 that it has agreed to sell its interests in the Pompano and Mica fields in the deepwater Gulf of Mexico to Stone Energy Offshore, LLC, a subsidiary of Stone Energy Corp (NYSE: SGY).
- Stone Energy Corporation is an independent oil and natural gas exploration and production company headquartered in Lafayette, Louisiana, with additional offices in New Orleans, Louisiana, Houston, Texas and Morgantown, West Virginia.
- Pompano: BP (operator) 75 per cent; Anadarko 25 per cent
- Mica: ExxonMobil (operator) 50 per cent, BP 50 per cent.
- Mississippi Canyon block 29: BP (operator) 51 per cent, Anadarko (KerrMcGee) 22%, Hunt Oil 27%
- The Pompano Field is eight miles long, located within water depths ranging from 1,100 feet to 2,200 feet. Given the distance and depth range, the Pompano owners elected to use proven technology and placed a fixed platform in shallow water at the northern end of the field.
- A subsea tieback system, along with extended reach wells, was utilized to access the resources in the southern portion of the field. Pompano currently has 23 producing wells.
- Pompano production capacity is 60,000 barrels of oil per day, 135 million cubic feet of gas per day. The Pompano platform is a four leg, twelve pile fixed structure situated in 1,300 feet of water. The Pompano platform is host to about 35 BP employees.
BP in the GoM:
- BP has been exploring in the deepwater Gulf of Mexico for more than a quarter of a century and is the Gulf’s largest producer of oil and gas, both in the deep water (greater than 1,200 feet) and in total.
- BP is the largest leaseholder in the deepwater Gulf of Mexico, owning more than 650 leases.
- BP produces from over 20 fields in the Gulf, including Thunder Horse, Atlantis and Mad Dog, among the Gulf’s largest and deepest fields.
Posted: November 22, 2011