LLOG Exploration Affiliates and Partners Commence Development Drilling at Buckskin Project in the Deepwater Gulf of Mexico

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COVINGTON, La., Jan. 22, 2018 (GLOBE NEWSWIRE) — LLOG Exploration Company, L.L.C. (“LLOG”) today announced that development drilling operations have begun at the Buckskin project in the deepwater Gulf of Mexico. Buckskin is located on Keathley Canyon blocks 785, 828, 829, 830, 871 and 872 in approximately 6,800 feet of water and was delineated by multiple prior wells. The initial phase of this large-scale, deepwater project will consist of two development wells in Keathley Canyon 829 and a six-mile subsea tieback to the Lucius platform at Keathley Canyon 875. Drilling and completion of the initial two wells, which will be drilled to approximately 29,000 feet, will be followed by installation of subsea facilities. First production from the field is expected in mid 2019. In order to fully develop the field, which is estimated to contain nearly five billion barrels of oil in place, additional wells and subsea facilities will be required after the initial phase.

Two affiliates of LLOG, Buckstone Development Company, L.L.C. and LLOG Deepwater Development Company I, L.L.C., own a combined 33.8% working interest in the Buckskin development, and LLOG Exploration Offshore, L.L.C. is operator of the project. Additional partners are Repsol E&P USA Inc. (22.5%), Beacon Offshore Energy Buckskin LLC (18.7%), Navitas Buckskin US, LLC (7.5%) and two entities managed by Ridgewood Energy Corporation, Ridgewood Buckskin, LLC and ILX Prospect Buckskin, LLC, each of which owns 8.75%.

Scott Gutterman, LLOG’s President and Chief Executive Officer commented, “The start of drilling at Buckskin is a significant milestone for LLOG, given the size of the field and the fact that it is our first development in the Lower Tertiary trend. We are looking forward to successful completion of the project and are excited about the potential of Buckskin and other opportunities in the Lower Tertiary.”

About the Company

LLOG Exploration Company, L.L.C. is one of the largest privately-owned exploration and production companies in the United States. LLOG’s corporate headquarters is in Covington, Louisiana, and the Company also has an office in Houston, Texas. For additional information, please visit the company’s website at www.llog.com.

Rick Fowler 985-801-4300