US-based Beacon Offshore Energy (Beacon) has announced the final investment decision by its subsidiaries to develop the Winterfell deep-water project in the Gulf of Mexico.
The project, discovered in 2021 and appraised in 2022, is operated by Beacon and its unit BOE Exploration & Production (BOE).
It is expected to start producing oil in the second quarter of 2024.
Winterfell is located in the Miocene formation, spanning Green Canyon blocks 943, 944, 987 and 988, at a water depth of more than 1,584m.
Beacon, through Beacon Offshore Energy Exploration (35.08%) and BOE (0.33%), holds a 35.41% working interest in the project.
It plans to develop the project through a nearly 21km subsea tieback to the Heidelberg spar, operated by Anadarko Petroleum Corporation in Green Canyon Block 860.
The initial phase of the development includes three wells, which are projected to deliver gross production of approximately 22,000boepd.
Other partners in the project include a subsidiary of Kosmos Energy (25.04%), Westlawn GOM Asset 3 Holdco (15%), Red Willow Offshore, (12.5%), Alta Mar Energy (Winterfell) (7.55%) and CSL Exploration (4.5%).
Commenting on the announcement, Scott Gutterman, CEO, said: “The investment decision represents an important milestone for the Winterfell project and reflects our commitment to safely and efficiently develop material operated resources located in the deepwater Gulf of Mexico. Our technical and commercial teams continue to develop solutions that provide win-win outcomes for our partners.
“At Winterfell we are unlocking the sub-salt field’s potential via the execution of horizontal drilling technology applied to open hole completions while securing access to the nearby Heidelberg spar and associated downstream infrastructure with available ullage. The Winterfell development once again demonstrates the ability to produce oil and natural gas in the US Gulf of Mexico with a lower carbon footprint than almost all other regions.”
