Castex Offshore regains Gulf of Mexico block

Castex Offshore, a mid-sized, U.S. based oil company, operating the Hummer project in the U.S. Gulf of Mexico, has been re-awarded the Main Pass Block 274 lease offshore Louisiana.

According to Petsec Energy, Castex’s partner in the Hummer development, the latest lease award falls within an Area of Mutual Interest (AMI) for the Hummer Project participants, and as a result, Petsec has the right to participate for its 12.5% working interest (“W.I.”) in the lease.

Main Pass Block 274 was previously leased by Petsec in March 2010 as part of the Hummer Exploration Prospect, which was identified on 3D seismic as extending across portions of Main Pass Blocks 270, 273 and 274. The Main Pass Block 270 #3 Hummer discovery well (Petsec 12.5% W.I.) was drilled in late 2015 and is currently under development with the construction of a production jacket.

The company said that it has maintained leases on Main Pass Blocks 270 and 273 along with other Hummer participants as a result of the drilling; however the five year lease term on Block 274 expired in mid-year 2015 prior to drilling and logging of the discovery well.

Following the expiration, Main Pass Block 274 was subsequently re-offered by the Bureau of Ocean Energy Management (BOEM) in the Central Gulf of Mexico Lease Sale 241 held on March 23, 2016. Castex was the high bidder with a gross bid of US$675,576. Petsec’s net share is US$84,447.

There was one other competitive bid on the blick, Petsec said, however after review by the BOEM, Castex’s bid was accepted on May 5th, 2016.

 

 

Share this article

Follow Offshore Energy Today

Events>

<< Aug 2019 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31 1

OEE Conference & Exhibition 2019

OEE2019 is organised by Ocean Energy Europe, the industry association representing ocean energy in Europe.

read more >

Shanghai Int Petrochemical and Offshore Oil & Gas and Chemical Industry Technology and Equipment Exhibition 2019

cippe Shanghai has attracts both…

read more >

OWI LATAM 2019

Over the two-day conference, 25+ expert speakers will share exclusive insight on how to develop an integrity, production and P&A strategy…

read more >

Uganda International Oil and Gas Summit 2019

Uganda International Oil & Gas Summit will once again examine the industry’s developments…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply