Bay Marchand Block 2 Offshore - Cantium

Bay Marchand Block 2 Offshore - Cantium Oil and Gas Asset Profile

Location

The Bay Marchand Block 2 Offshore asset is located in the state of Louisiana, United States, to the west of the mouth of the Mississippi River. The exact coordinates are 29.0898, -90.1488.

Operator and Ownership

The asset is operated by Cantium LLC. While the specific ownership details are not provided, Cantium acquired the Bay Marchand field as part of its purchase of Chevron’s Gulf of Mexico Shelf assets in 2016.

History and Discovery

Oil was first discovered in the Bay Marchand field in 1949. The field reached its peak production of over 87,000 Barrels of Oil Per Day (BOPD) in 1967. Since Cantium took over the operatorship in September 2017, the company has focused on reducing field declines, increasing production, and enhancing drilling opportunities.

Production and Reserves

• Current Production: The Bay Marchand field, which includes Block 2, produces approximately 1.3 million barrels of oil per year and 22 million cubic meters of gas per year as of 2020.
• Historical Production: The Bay Marchand field has produced over 875 million Barrels of Oil Equivalent (BOE) to date.
• Reserves: The field is estimated to have originally had over 2.2 billion barrels of oil in place.

Operations

• Infrastructure: Cantium operates approximately 150 active wells from 80 surface locations in the Bay Marchand field. The bulk fluids from these wells are separated, metered, and processed at Cantium’s wholly owned facility in Port Fourchon. This facility includes a tank farm with eight main tanks, water treatment and disposal, oil treatment and storage, gas dehydration and compression, and final custody transfer metering.
• Water Depths: The water depths in the Bay Marchand field range from 20 to 60 feet.

Geology and Development Opportunities

• Geological Structure: The Bay Marchand field sits on top of a large Salt Dome, providing a variety of hydrocarbon play types. The field has over 50 identified sands and 690 individual mapped reservoirs, offering significant development opportunities.
• Seismic Reprocessing: In 2020, Cantium completed a field-wide seismic reprocessing project, which significantly improved the subsurface image and shaped both exploration and development drilling opportunities.

Facilities and Support

• Shore Base: Operations in the Bay Marchand field are supported from Cantium’s shore base in Port Fourchon.
• Facilities: The field has extensive infrastructure, including gas compression and dehydration facilities, oil treating, metering, and sales facilities, as well as water treatment and disposal facilities.

Strategy and Performance

• Operational Efficiency: Cantium has focused on reducing field declines and increasing production through facility engineering, effective workovers, and new drill programs. This has led to consistent year-on-year growth and a 255% reserves replacement ratio.
• Investment and Technology: Cantium invests in advanced seismic interpretation techniques and data analytics to identify new growth opportunities. The company integrates geological, geophysical, and engineering data to optimize operations and extend the economic life of its properties.

Environmental and Safety Commitment

Cantium emphasizes safe and sustainable operations, minimizing adverse environmental and social impacts, and achieving high standards of health and safety.