In late February 2018, ILX Prospective Leases III and Ridgewood Institutional III Prospective Leases acquired 50% equity (25% apiece) from LLOG Bluewater Holdings in Green Canyon Block GC 955, situated in the East Texas Coastal Basin. The transaction is effective as of 1 December 2017. GC 955 is the site of the 2006 Mission Deep discovery, in which Anadarko and partner Devon Energy encountered over 76m (250 ft) of net oil pay in the primary middle Miocene objective. The discovery well was drilled to 7,620m (25,000 ft) TD in 2,225m (7,300 ft) of water. On 1 December 2017, LLOG was awarded Green Canyon blocks GC 568 (lease G36161), GC 612 (G36162) and GC 955 (G36163). The block was originally offered as part of Western Gulf of Mexico Lease Sale 249, which was held on 16 August 2017. GC 955 is expected to expire on 30 September 2027. Following completion of the transaction, equity in GC 955 is now shared between LLOG Bluewater Holdings (50% WI), Ridgewood Institutional III Prospective Leases (25%) and ILX Prospective Leases III (25%). The lease is operated by LLOG Exploration Offshore.
ILX and Ridgewood acquired 50% equity (25% apiece) from LLOG (->50%) in Green Canyon Block GC 955 (G36163).