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Posts Tagged ‘RIdgewood Energy’

Among the top 10 companies at Sale 261 (based on the number of high bids) are household names Shell, Chevron/Hess, Oxy/Anadarko, and bp, and international majors Equinor (Norway) and Woodside (Australia).

Lesser known companies have also become important deepwater players including two, Red Willow (owned by the Southern Ute tribe) and Houston Energy, that cracked the top 10 bidders list. Other emerging deepwater companies, Ridgewood, CSL Expl, Westlawn, Alta Mar, and CL&F were also active sale 261 participants. All of these companies bid in partnership with other independents.

Company257259261
Red Willow51325
Houston Energy5918
Ridgewood028
CSL Expl113
Westlawn035
Alta Mar009
CL&F003
Number of bids by emerging deepwater players at Sales 257, 259, and 261.
Houston Energy’s GoM portfolio

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Murphy has announced first oil from the King’s Quay floating production unit in the Gulf of Mexico. The initial production rate has not been released, but the facility is expected to process up to 80,000 BOPD and 100 million cu ft of gas per day from subsea wells.

Murphy’s six partners all appear to be investment companies. This type of support is essential given the reduced Gulf of Mexico participation by some of the major oil companies. Ridgewood Energy has the largest stake among the Murphy partners. In the “old days,” the partners were typically other exploration and production companies.

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