Winterfell (GC943/GC944) - Beacon

Profile for Winterfell (GC943/GC944) - Beacon Oil and Gas Field

Location

The Winterfell oil and gas field is located in the Federal offshore area of the United States, specifically in the Green Canyon area of the Gulf of Mexico. The field spans across Green Canyon blocks 899, 900, 943, 944, 987, and 988, with a water depth of approximately 5,400 feet (1,646 meters).

Discovery and Development

• The Winterfell field was discovered in 2021 in a Miocene-aged interval.
• Following the discovery, successful appraisal drilling was conducted in 2022.
• The final investment decision (FID) for the project was made in early 2024.

Operator and Ownership

• The operator of the Winterfell field is BOE Exploration & Production LLC, a subsidiary of Beacon Offshore Energy LLC.
• The ownership interests are distributed as follows:
  • Beacon Offshore Energy: 35.41% (though some sources indicate 40.08%)
  • Kosmos Energy: 25.04%
  • Red Willow Offshore LLC: 12.5%
  • Ridgewood Monarch North LLC: 10.0%
  • Other partners: 12.4% (including Westlawn Americas Offshore, Alta Mar Energy, and CSL Exploration).

Production Details

• The field is being developed in phases, with the initial phase involving a 13-mile subsea tieback to the Heidelberg spar platform operated by Anadarko Petroleum Corporation.
• The first two production wells were drilled and completed with subsea hookup in April 2024, and they are currently online and ramping up production.
• A third well is being drilled and is expected to be online by the end of the third quarter of 2024.
• The initial three wells are projected to deliver gross production of approximately 20,000 barrels of oil equivalent per day (boe/d).

Reserves and Production Potential

• The field is estimated to have oil resources of 100 million barrels.
• The first phase of the project is expected to recover around 100 million barrels of oil equivalent (MMboe), with potential for additional production from subsequent phases.

Infrastructure and Operations

• The production activity is conducted via the Anadarko Petroleum Corporation-operated Green Canyon 860 A-Heidelberg production facility.
• The development involves the use of horizontal drilling technology applied to open hole completions, aiming to produce oil with a lower carbon footprint.

Milestones and Updates

• First oil production from the Winterfell field began in early July 2024.
• The project is part of Beacon Offshore Energy's strategy to develop high-margin, low-emission oil projects in the deepwater Gulf of Mexico.

Environmental and Regulatory

• The development plan includes coordination with regulatory bodies, and no evidence of intact shipwreck sites was observed within the project area.
• The project has undergone various regulatory approvals, including initial and revised exploration plans and development operations coordination documents.