BP plc (NYSE:BP) operates seven facilities (Marlin, Horn Mountain, Na Kika, Holstein, Mad Dog, Atlantis and Thunder Horse) and has the second largest number of deepwater rigs under contract with six. Furthermore, it has equity interest in five partner operated facilities (Diana Hoover, Mars, Ursa, Ram Powell and Great White). The BP operated Mardi Gras transportation system consists of five major oil and gas pipelines, designed to serve fields in the Mississippi Canyon (Na Kika, Thunder Horse) and Southern Green Canyon (Holstein, Mad Dog, Atlantis) areas.
Source: BP
BP plc (NYSE:BP) has three major operated projects currently under development in the Gulf of Mexico, Galapagos, Na Kika Phase 3 and Mad Dog Phase 2. In addition, the company has equity interest in the Mars B development. BP plc (NYSE:BP) began its operations in the area since the mid 1980s.
Finally, Chevron Corporation (NYSE:CVX) counts five rigs under contract in the Gulf of Mexico. Average net daily production in 2012 was 105,000 barrels of crude oil, 74 Mcf (million cubic feet) of natural gas and 8,000 barrels of NGLs, primarily from the Tahiti and Blind Faith fields and the Perdido Regional Development. Net daily production at the 58% owned and operated Tahiti Field averaged 43,000 barrels of crude oil, 17 Mcf of natural gas and 3,000 barrels of NGLs. The second development phase, Tahiti 2, is designed to increase production to more than 100,000 barrels of crude oil per day. According to Chevron Corporation (NYSE:CVX), ramp-up production on the $2.3 billion project is expected in the third quarter of 2013.
Source: Chevron
Chevron Corporation (NYSE:CVX)’s interest in the Perdido development ranges from 33.3% to 60%. Total daily production in 2012 averaged 63,000 barrels of crude oil (24,000 net), 75 Mcf of natural gas (29 million net) and 7,000 barrels of NGLs (3,000 net). As more wells are completed, total daily production is expected to stabilize and average about 100,000 Boe in 2013.
Finally, regarding Chevron Corporation (NYSE:CVX)’s exploration program, the company announced in March 2013, a discovery at the Coronado prospect in Walker Ridge. The well is approximately 190 miles off the Louisiana coast in more than 6,127 feet of water. Additional work will be needed to determine the extent of the resources.
Bottom line
The article Anadarko Reported Its Phobos Discovery in the Deepwater Gulf of Mexico originally appeared on Fool.com.
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