U.S.-based oil company LLOG Exploration has taken over operatorship of the Buckskin project in the Gulf of Mexico from the Spanish oil firm Repsol.
A Repsol spokesperson has told Offshore Energy Today that LLOG was named the operator of the Buckskin unit and that Repsol currently owns 22.5 percent interest in the leases.
The company has not disclosed any further information regarding the operatorship transfer.
To remind, Danish oil company Maersk Oil decided to relinquish its share in the Buckskin project last year after citing its new strategy to focus on fewer geographical areas.
Maersk followed the lead of the former owner and operator of Buckskin, Chevron, which left the project in 2015, with Chevron CEO saying it was a tough call but “we’ve got better places to put our money.” Upon Chevron’s exit, Repsol took over the operatorship.
The Buckskin discovery was made by Repsol in 2009, in deepwater Keathley Canyon in the Gulf of Mexico, 300 kilometers offshore Houston.
The discovery well in the Lower Tertiary was further delineated with a successful appraisal well in 2014. Front-end engineering and design work began in 2015 with a final investment decision, which had been planned for 2016, yet to be made.
Offshore energy Today Staff