Eugene Island Block 18 - Texas Petroleum Investment

Location

Eugene Island Block 18 is located in the Gulf of Mexico, approximately 90 miles offshore from the Louisiana coast. This area is part of the prolific oil fields in the Eugene Island region.

Historical Context

The Eugene Island area has been a significant site for oil and gas production for several decades. The first major discoveries in this region date back to the mid-20th century, with companies like Shell Oil and others making substantial finds in the area.

Operational Details

• The Eugene Island Block 18 is part of a larger oil field where Pennzoil, among other companies, has operated oil production platforms. Pennzoil has owned a handful of oil production platforms in this area for over 25 years.
• The C platform, which is part of this block, serves as a central facility for processing, measuring, and sending oil and gas to shore via pipelines along the seafloor.

Production and Reserves

• Initially, the field was producing a meager 100 barrels of oil per day. However, after additional wells were drilled, production significantly increased to 3,700 barrels of oil and 15 million cubic feet of gas per day.
• Further exploration and drilling activities, such as those conducted by Pennzoil's team, identified new pay zones and increased the total production expectations to 5,080 barrels of oil and 20 million cubic feet of gas per day.

Geological Significance

• The area is characterized by complex geological structures, including faults that allow hydrocarbons to migrate upward. Advanced seismic data analysis has been crucial in identifying these structures and potential pay zones.

Economic and Strategic Importance

• The acquisition of this field by Pennzoil from Chevron was seen as highly valuable due to the potential for significant oil and gas reserves. The team's success in finding a large oil field close to the predicted location was a major achievement, indicating the field's commercial viability.

Community and Economic Impact

• The development and operation of oil and gas fields in the Gulf of Mexico, including Eugene Island Block 18, have had profound impacts on local communities and economies. Cities like Morgan City, Houma, and Lafayette have grown as fabrication centers and staging bases for offshore rigs and platforms.

While the specific details for Eugene Island Block 18 under Texas Petroleum Investment are not extensively outlined in the sources, the general context and operational details provided give a clear picture of the significance and operations of this oil field in the Gulf of Mexico.