In it for the long run
To our knowledge, Delta House and Who Dat are the only two privately- owned deepwater floating production systems in the world. They won’t be the last.
“We’ve been fortunate to align ourselves with
some very sound partners,” says LLOG’s Chief
Executive Officer, Scott Gutterman. “As a
private independent, our biggest challenge
historically has been securing sufficient
capital to underwrite our programs. Especially
as we continue to grow our deepwater
business and are more frequently confronted
with developments that require investment
beyond our available conventional resources.
In the case of Delta House, ArcLight and
Blackstone have been extraordinarily strategic
partners. By providing access to additional
external sources of capital to expedite this
development, they provide an ability to harvest
the value we created without diminishing
our focus on continued growth through our
A Bright Future for Delta House
The FPS itself is designed for 25 years of
continuous production. While the facility is
nominally built to process 80,000 barrels of oil
per day (bopd), 200 million standard cubic feet
of gas (mmscfd) and 40,000 barrels of water per
day (bwpd), the peak capacities are at least 20
percent more. By the end of 2015, we expect to
have seven Delta House wells on production.
The development plans for the known fields
include 14 wells, as Rick Fowler, LLOG vice
president deepwater projects, explains.
“Our plan is to continue our development and
exploration activity in the area to get the
facility full and keep it full as long as possible,” Scott Gutterman, LLOG’s chief executive offcer.