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LLOG Exploration Announces the Sanctioning of its Taggart Discovery

Source: www.gulfoilandgas.com 6/29/2020, Location: North America

LLOG Exploration Offshore, L.L.C., a privately-owned exploration and production company focused on the deepwater Gulf of Mexico ("GOM"), announced the sanctioning of its Taggart discovery and the signing of a production handling agreement for development via tieback to the Williams-owned Devils Tower Spar in Mississippi Canyon 773.

The Taggart discovery is located on Mississippi Canyon Block 816 in approximately 5,650 feet of water. The Mississippi Canyon 816 #1 discovery well was drilled in 2013 to a depth of 11,562 feet and encountered 97 feet of net pay in two Miocene objectives. Two subsequent appraisal wells were drilled in 2015 and 2019 and encountered 147 feet and 84 feet of net pay, respectively.

Philip LeJeune, President and CEO of LLOG, commented, "LLOG is pleased to announce the sanctioning of our Taggart discovery, and we look forward to the successful development of this deepwater asset. We are proud to have finalized an agreement with Williams for the recovery and processing of Taggart's reserves via subsea tieback to their nearby Devils Tower Spar. Williams will provide the infrastructure necessary for the efficient and economic development of the Taggart discovery which has reserves totaling approximately 27 million barrels of oil equivalent. We believe this partnership is a perfect match due to both companies' experience developing deepwater assets and commitment to operating with excellence, integrity, and safety. LLOG is looking forward to beginning the successful execution of this deepwater Gulf of Mexico development project."

LLOG and its affiliates own 100% of the Taggart development. Initial development plans at Taggart include the completion and tie back of two wells with first production expected in 2022.

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