In early May 2017, the BOEM determined that an oil discovery was made at LLOG's new-field wildcat well, G35662 1, which had been targeting the Mormont prospect. The "Sevan Louisiana" semi-submersible had been moved off the well site, situated in the central region of Green Canyon Block GC 478 (G35662), by mid May. G35662 1 was spud on 1 March 2017. In early April 2017, ILX Prospect Mormont and Ridgewood Mormont acquired 17.5% WI each from LLOG Bluewater in Green Canyon Block GC 478 (G35662). The transaction is effective as of 1 February 2017. The lease was originally offered as part of Central Gulf of Mexico OCS Sale #235 in 2015. Following completion of the transactions, equity in GC 478 is shared between LLOG Exploration Offshore (0.35% WI + Op), LLOG Bluewater Holdings (34.65%), Red Willow Offshore (25%), Houston Energy (5%), Ridgewood Mormont (17.5%) and ILX Prospect Mormont (17.5%).
An oil discovery was made at LLOG's new-field wildcat well, G35662 1, which had been targeting the Mormont prospect. The "Sevan Louisiana" semi-submersible had been moved off the well site, situated in the central region of Green Canyon Block GC 478 (G35662), by mid May. G35662 1 was spud on 1 March 2017. In early April 2017, ILX Prospect Mormont and Ridgewood Mormont acquired 17.5% WI each from LLOG Bluewater in Green Canyon Block GC 478 (G35662). The transaction is effective as of 1 February 2017. The lease was originally offered as part of Central Gulf of Mexico OCS Sale #235 in 2015. Following completion of the transactions, equity in GC 478 is shared between LLOG Exploration Offshore (0.35% WI + Op), LLOG Bluewater Holdings (34.65%), Red Willow Offshore (25%), Houston Energy (5%), Ridgewood Mormont (17.5%) and ILX Prospect Mormont (17.5%).