In late July 2020, partner Navitas Petroleum indicated that Beacon Energy is in the process of acquiring an additional 31% working interest stake in the Shenandoah project, from LLOG. Beacon recently awarded Transocean ~US$ 250 million contract for drilling services related to the ultra-deepwater project, located in Walker Ridge blocks WR 51, WR 52, and WR 53, ~322km south of New Orleans. The drilling services will be carried out with Transoceanâs âDeepwater Atlasâ drillship, which is presently under construction at the Jurong Shipyard in Singapore. First production is slated for 2024.The forward play for Shenandoah is to drill multiple wells to develop the estimated 100-400 MMbbls, targeting previously discovered oil-bearing Upper and Lower Wilcox-reservoirs. The oil and rock qualities for the Shenandoah development are both best-in-class for the emerging Wilcox production trend. The original Shenandoah #1 discovery well was drilled in early 2009 on Block WR 52 and encountered more than 91m (300 feet) net of Inboard Lower Tertiary oil pay. Equity in WR 51, WR 52 and the northern half of WR 53 is presently shared between Beacon Offshore Energy Development (15.95% WI), ShenHai (53.1%) and LLOG Deepwater Development Company III (30.95%). Equity in the southern half of WR 53 is split between Beacon Offshore Energy Development (4.556%), ShenHai (86.592%) and LLOG Deepwater Development Company III (8.852%). LLOG Exploration Offshore is the operator of all three leases.
Navitas Petroleum indicated that Beacon Energy is in the process of acquiring an additional 31% working interest stake in the Shenandoah project, from LLOG.