Beacon Offshore Energy has announced that several of its subsidiaries have taken final investment decision (FID) to develop the Winterfell discovery in the Gulf of Mexico, with the first oil expected in the second quart of 2024.
The Winterfell discovery, operated by BOE Exploration & Production (BOE) will be developed as a cost effective-low emissions subsea tieback, the Texas-based oil and gas company said.
As the Winterfell operator, Beacon holds a 35.41% working interest in the Miocene aged project principally located in Green Canyon blocks 943, 944, 987, and 988 with a water depth of approximately 5,200 feet.
Winterfell was initially discovered in 2021 with subsequent successful appraisal drilling conducted in 2022.
The field will be developed via a newly installed 13-mile subsea tieback to the Heidelberg spar located in Green Canyon Block 860 operated by Anadarko Petroleum Corporation.
First oil is expected to occur early in the second quarter 2024 and from three initial wells projected to deliver gross production of approximately 22,000 boepd, according to Beacon Offshore.
“The investment decision represents an important milestone for the Winterfell project and reflects our commitment to safely and efficiently develop material operated resources located in the deepwater Gulf of Mexico
“At Winterfell we are unlocking the sub-salt field’s potential via the execution of horizontal drilling technology applied to open hole completions while securing access to the nearby Heidelberg spar and associated downstream infrastructure with available ullage,” said Scott Gutterman, CEO of Beacon Offshore.
Working interest parties include Beacon Offshore Energy Exploration (35.08%), BOE (0.33%), a subsidiary of Kosmos Energy (25.04%), Westlawn GOM Asset 3 Holdco (15.0%), Red Willow Offshore (12.5%), Alta Mar Energy (Winterfell) (7.55%), and CSL Exploration (4.5%).