U.S. oil company Hess has started first production from its operated Stampede development in the Gulf of Mexico.
Discovered in 2005, the Stampede deepwater oil and gas field is located 115 miles south of Fourchon, La., in the Gulf of Mexico. The field has total estimated recoverable resources in the range of 300-350 million barrels of oil equivalent. The project was sanctioned in October 2014.
The development includes subsea production and injection wells tied back to a single tension leg platform (TLP). Gross topsides processing capacity for the project is approximately 80,000 barrels of oil per day and 100,000 barrels of water injection capacity per day. The TLP was installed at its offshore location during the second quarter of 2017.
In its 4Q 2017 report on Monday Hess said that first production at Stampede started in January 2018.
Further regarding the Stampede development, Hess said it completed subsea work, received regulatory approval for production operations, and continued drilling at the fourth production well and first water injection well.
Under the current development scope, production facilities will consist of six subsea production wells and four water injection wells tied back to the TLP. Production is expected to ramp up through 2018.
Hess is operator of the field and has a 25 percent working interest in the field. Co-owners are Union Oil Co. of California, a Chevron subsidiary (25%), Nexen Petroleum Offshore USA, a CNOOC ltd company (25%), and Statoil (25%).
Also on Monday, Hess posted a net loss of $2.68 billion in the fourth quarter of 2017, compared with a net loss of $4.89 billion in the fourth quarter of 2016.
Offshore Energy Today Staff