MP041 - Cantium

Location and History

• Main Pass 41 is located in the Gulf of Mexico, specifically in the shallow water region.
• The field was first discovered in 1956 and reached its peak production rate of over 70,000 Barrels of Oil Per Day (BOPD) in 1971.

Current Operations

• Cantium LLC acquired the Main Pass 41 field, along with other Gulf of Mexico shallow water fields, in 2017. Since then, Cantium has been the operator of the field.
• The field is part of a larger acreage held by Cantium, which includes over 66,000 acres across MP 30, MP 59, MP 41, and adjacent blocks.

Production and Infrastructure

• Currently, Cantium produces oil and gas from about 80 active wells across 46 structures within the MP 41 field.
• The field has a comprehensive infrastructure, including numerous locations for gas compression and dehydration. A large central processing facility in MP 42 handles oil treating, metering, and sales, as well as water treating and disposal.
• There are three gas sales and export pipelines from the field.

Water Depth and Support

• The water depths in the MP 41 field range from 20 to 70 feet.
• Operations are supported from Cantium’s shorebase in Venice, Louisiana.

Field Characteristics

• The Main Pass fields, including MP 41, feature a broad mixture of hydrocarbon traps resulting from reservoir deposition around associated salt diapirs.
• The field has over 130 identified sands and 670 individual reservoirs mapped, contributing to the significant development opportunities.

Seismic and Development Activities

• In 2021, Cantium completed a multi-field wide seismic reprocessing project over MP 299, MP 144, and MP 313, which also benefited the understanding and development of MP 41. This project significantly improved the image of the subsurface, de-risked current opportunities, and shaped new multi-year exploration and development drilling programs.

Operational Efficiency and Growth

• Since taking over the operatorship, Cantium’s experienced team has reduced field declines, increased production, and enhanced drilling opportunities through facility engineering, effective workovers, and new drill programs.
• Cantium’s strategy focuses on disciplined capital deployment, operational efficiency, and adding incremental recoverable reserves, which has led to consistent year-on-year growth and high returns on investment.