LLOG, as Operator, has advised that the Noble Valiant drillship spudded the Who Dat West exploration well, MC 629-1, located in the offshore US Gulf of Mexico, on 24 December 2024 US Central Standard Time (CST).

Who Dat West lies approximately 31 kilometres west of the Who Dat Floating Production System (FPS), in Mississippi Canyon Lease 629, in a water depth of approximately 740 metres. The well is designed to test two amplitude-supported Upper Miocene reservoir prospects.

The well is planned to be drilled to a total measured depth of approximately 7,150 metres, with a maximum hole inclination of 34 degrees, and is expected to take approximately 50 days to drill and evaluate.

Independent expert, Netherland Sewell and Associates, Inc., has estimated that the Who Dat West prospect contains 77 MMboe of gross unrisked Prospective 2U Resources(1), equivalent to 21.6 MMboe net to Karoon on a Net Revenue Interest(2) basis. The geological probability of success is assessed at 36%(1).

The Who Dat West Joint Venture working interests in Lease 629 at the conclusion of the drilling campaign will be as follows:

• LLOG (operator): 30%
• Karoon(3): 35%
• Westlawn Americas Offshore: 30%
• Houston Energy: 5%(4)

1. As assessed by independent expert Netherland Sewell and Associates, Inc (NSAI) as at 31 December 2023. 
2. After government and other third party royalties.
3. Via a wholly owned Karoon group subsidiary.
4. Pre-drilling, Houston Energy has no working interest in the Lease and is subject to a carry from each of the other joint venture parties. Karoon’s funding interest is 36.5% plus up to a maximum US$16.3 million additional 2 for 1 carry of LLOG’s interest.

KeyFacts Energy:   LLOG US Gulf of Mexico country profile