Beacon Offshore Energy’s Shenandoah development in the U.S. Gulf of Mexico received project sanction on Aug. 25, which, once onstream, analysts project will be transformational for the privately held E&P company.

“All eyes will be on Beacon as it executes the 20,000 psi project,” commented Mfon Usoro, senior research analyst at Wood Mackenzie, in an emailed statement. “We have seen other smaller companies like LLOG take on successful Paleogene projects including Buckskin.”

Once onstream, earmarked for 2024, production from Shenandoah is expected to catapult Beacon from its current position as the 20th-largest producer in the U.S. Gulf of Mexico to the 10th spot, according to Usoro.

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