Japanese oil and gas major Inpex has acquired an additional 2.3% stake in the Lucius and Hadrian North fields in the US Gulf of Mexico (GOM).
Situated approximately 380km offshore the State of Louisiana, the Lucius Field commenced crude oil and natural gas production in January 2015.
The field is located in the US GOM’s Keathley Canyon blocks 874, 875, 918 and 919.
Following unitising with the nearby Lucius Field in 2017, the Hadrian North Field has been developed jointly with the Lucius Field using the latter’s production facilities.
The Hadrian North Field commenced crude oil and natural gas production in April 2019.
Through its subsidiary Inpex Americas, the Japanese firm acquired the stake from ExxonMobil, which previously held a 23.3% participating stake in the Occidental Petroleum-operated Lucius and Hadrian North fields.
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The transaction increases Inpex’s participating interest in the two producing fields to 10.1% from 7.75%.
In a press statement, Inpex said: “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 hydrocarbons produced from the Lucius and Hadrian North fields are processed at an offshore production facility that has a daily processing capacity of nearly 80,000 barrels of crude oil and around 4.5 million cubic feet of natural gas.
The processed oil and gas is transported and shipped through subsea pipelines to an onshore facility in Louisiana.
In 2019, Inpex US Offshore agreed to acquire 40% interest in Keathley Canyon blocks 921 and 965, and Walker Ridge blocks 881 and 925 in the US GOM from Anadarko Petroleum.