LLog Exploration Co. LLC

Transaction Type
Sellers
Marketers
Basin
Gulf of Mexico, Gulf Coast
Post Date
Estimated Price
MM
Description

LLog Exploration Co. LLC has retained Jefferies & Co. Inc. to sell up to half of its interests offshore Gulf of Mexico and all of its assets onshore the Gulf Coast. The offshore package involves 83,837 gross acres (53,063 net) on the Gulf of Mexico shelf involving High Island 170, High Island 138, High Island A-309 and Main Pass 125. LLog holds a 100% working interest (77.34% net revenue interest) in HI170 in 46 feet of water; a 50% working interest (38.25% net revenue interest) in HI138 in 46 feet of water; a 60% working interest (41.48% net revenue interest) in HIA-309 in 200 feet of water; and a 37.5% working interest (29.56 net revenue interest) in MP125 in 69 feet of water. Onshore, LLog holds 5,777 gross acres (1,776 net) in Texas and Louisiana, including a 40% working interest (28.17% net revenue interest) in Cottonwood North in Liberty County, Texas, and a 50% working interest (35% net revenue interest) in Kent Bayou/Foghorn in Terrebonne Parish, Louisiana. Total proved reserves are 127.2 billion cubic feet equivalent, plus 67.9 probable and 67.8 possible. Contact William Marko, 281-774-2068, wmarko@jefferies.com.