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  1. Market Data
May 6, 2022

Point Pedernales Heavy Oil Field, US

By Carmen

Point Pedernales is a producing heavy oil field located in shallow water in the US and is operated by Freeport-McMoRan Oil & Gas. The field is located in block NI10-06 6374 (P00441), NI10-06 6273 (P00438), NI10-06 6323 (P00437), NI10-06 6323 (P00441), NI10-06 6273 (P00437), NI10-06 6274 (P00438), NI10-06 6324 (P00441), NI10-06 6325 (P00441), NI10-06 6322 (P00437), NI10-06 6323 (P00440), NI10-06 6372 (P00440), NI10-06 6272 (P00437), NI10-06 6322 (P00440), NI10-06 6323 (P00438), NI10-06 6373 (P00440), NI10-06 6324 (P00438), NI10-06 6373 (P00441), and NI10-06 6375 (P00441).

Field participation details

The field is owned by Freeport-McMoRan.


Production from Point Pedernales

The Point Pedernales heavy oil field recovered 71.75% of its total recoverable reserves, with peak production in 1996. The peak production was approximately 11.42 thousand bpd of crude oil and condensate and 5 Mmcfd of natural gas. Based on economic assumptions, production will continue until the field reaches its economic limit in 2062.


Remaining recoverable reserves

The field is expected to recover 24.13 Mmboe, comprised of 23.15 Mmbbl of crude oil & condensate and 5.91 bcf of natural gas reserves. Point Pedernales heavy oil field reserves accounts 0.06% of total remaining reserves of producing heavy oil fields globally.


About Freeport-McMoRan Oil & Gas

Freeport-McMoRan Oil & Gas LLC (FMOG) formerly Plains Exploration & Production Company is an independent energy company. The company acquires, develops, exploration and produces oil and gas acreage in California, Texas and Louisiana. FMOG’s operations are San Joaquin Valley, Los Angeles Basin, Santa Maria Basin, Arroyo Grande and Eagle Ford among others. The company’s other properties in Gulf Coast Region include Eagle Ford Shale and Haynesville Shale and the Rocky Mountains. It completed the sale of gas properties and three Gulf of Mexico shelf oil in the West Delta and Mississippi Canyon region. FMOG‘s Gulf of Mexico assets include coastal offshore and onshore areas of Texas and Louisiana and the Gulf of Mexico. The company operates through its 20 subsidiaries located across Canada, Cayman Islands and the US. FMOG is headquartered in Houston, Texas, the US.

Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.

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