Enterprise Products Partners LP and Genesis Energy LP announced that their jointly owned crude oil gathering pipeline serving the Lucius production area in southern Keathley Canyon in the Gulf of Mexico is complete and began earning revenues on July 1. Constructed and owned by Southeast Keathley Canyon Pipeline Company LLC (SEKCO)—a 50/50 joint venture between Enterprise and Genesis—the 149-mile, 18-inch diameter pipeline connects the third party-owned Lucius-truss spar floating production platform to an existing junction platform at South Marsh Island 205, which is part of the Poseidon Pipeline system operated by Enterprise. Enterprise also operates the SEKCO pipeline, which has a capacity of 115,000 barrels per day.
A producer group, led by operator Anadarko Petroleum Corp. is developing the Lucius production area, which is estimated to have resources of more than 300 million barrels of oil equivalent. First production is expected during the second-half of 2014.
Recommended Reading
Gulfport Plans Liquids-rich Program After ‘Strong’ Ohio Oil Tests
2024-05-01 - Appalachia gas producer Gulfport Energy continues to report “strong oil production” from a two-well Hendershot pad drilled in eastern Ohio last year. Gulfport plans to develop additional liquids-rich opportunities this year as natural gas prices hover near record lows.
Decoding the Delaware: How E&Ps Are Unlocking the Future
2024-05-01 - The basin is deeper, gassier, more geologically complex and more remote than the Midland Basin to the east. But the Delaware is too sweet of a prize to pass up for many of the nation’s top oil and gas producers.
Chevron CEO: Permian, D-J Basin Production Fuels US Output Growth
2024-04-29 - Chevron continues to prioritize Permian Basin investment for new production and is seeing D-J Basin growth after closing its $6.3 billion acquisition of PDC Energy last year, CEO Mike Wirth said.
Novo II Reloads, Aims for Delaware Deals After $1.5B Exit Last Year
2024-04-24 - After Novo I sold its Delaware Basin position for $1.5 billion last year, Novo Oil & Gas II is reloading with EnCap backing and aiming for more Delaware deals.
Enverus: 1Q Upstream Deals Hit $51B, but Consolidation is Slowing
2024-04-23 - Oil and gas dealmaking continued at a high clip in the first quarter, especially in the Permian Basin. But a thinning list of potential takeout targets, and an invigorated Federal Trade Commission, are chilling the red-hot M&A market.