INPEX Acquires Additional Interest in Lucius and Hadrian North Fields

Source: www.gulfoilandgas.com 2/2/2021, Location: North America

INPEX, through its subsidiary, INPEX Americas, Inc., has additionally acquired a portion (2.3546 percent) of the participating interest(23.29512 percent) in the Lucius and Hadrian North fields previously held by ExxonMobil. This acquisition increases INPEX’s participating interest in the Lucius and Hadrian North fields from 7.75309 percent to 10.10769 percent.

Under the operatorship of Occidental, INPEX and its project partners are jointly developing, producing and marketing crude oil and natural gas from the Lucius Field located in the US Gulf of Mexico’s Keathley Canyon ('KC') blocks 874, 875, 918 and 919 and the Hadrian North Field located in KC blocks 918 and 919.

The Lucius Field is located approx. 380 kms offshore the State of Louisiana, where the water is approx. 2,200 meters deep. Production of crude oil and natural gas at the Lucius Field commenced in January 2015. The Hadrian North Field, which lies in the vicinity of the Lucius Field, was unitized with the Lucius Field in 2017 and thereafter has been jointly developed with the Lucius Field using the Lucius Field’s production facilities. Production of crude oil and natural gas at the Hadrian North Field commenced in April 2019.The crude oil and natural gas produced from the two fields are processed at a production facility positioned offshore with a daily processing capacity of approx. 80,000 barrels of crude oil and approx. 4.5 million cubic feet of natural gas, transported and shipped to an onshore facility in the State of Louisiana via subsea pipelines.

INPEX’s acquisition of additional interest in the Lucius and Hadrian North fields contributes to the sustainable growth of oil and natural gas E&P activities, one of the business targets outlined in the company’s Vision 2040 announced in May 2018. INPEX will continue to actively take part in the exploration, development and production of crude oil and natural gas in the Gulf of Mexico.

The impact of this transaction on INPEX’s consolidated financial results is minimal.


Turkey >>  4/15/2021 -  Valeura Energy Inc. (VLU) (“Valeura”) has agreed with TBNG Limited (the “Buyer”) to amend the long stop date (the “Outside Date”) for the completion ...
Australia >>  4/14/2021 - FAR Limited has received the accompanying letter from Remus Horizons advising its intention to make a takeover offer for FAR shares at 2.1 cents per s...

Australia >>  4/14/2021 - Empire Energy has signed a binding Sale and Purchase Agreement with Pangaea (NT) Pty Ltd as trustee of the Pangaea (NT) Unit Trust to acquire Pangaea’...
Netherlands/Holland >>  4/14/2021 - Kistos, the AIM quoted closed-ended investment company which has been established with the objective of creating value for its investors through acqui...

India >>  4/13/2021 - Oilex has announced that all necessary approvals from the Government of India (GoI) for the sale of its Participating Interest (PI) in the Bhandut PSC...
United Arab Emirates >>  4/13/2021 - ADNOC Logistics & Services (ADNOC L&S), the shipping and maritime logistics arm of Abu Dhabi National Oil Company (ADNOC), has announced the acquisiti...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.