Reflecting our strategy of targeting among the lowest-cost, lowest-carbon emissions oil and gas in North America, Ridgewood Energy invested in the development of the Buckskin Project as a multi-well subsea tieback to existing nearby infrastructure.
Buckskin presented an opportunity for Ridgewood Energy Funds to acquire proved and appraised resources in the Wilcox formation.
Buckskin was originally operated by Chevron, which drilled an initial discovery well in 2009 and subsequently delineated the field with three additional appraisal wells, the most recent of which was drilled in 2014. Chevron’s four existing wells yielded extensive subsurface information.
Buckskin is comprised of two large, hydrocarbon features extending over six lease blocks. Development is being staged, with Phase I focused on drilling and completing a series of development wells in the northern feature of Buckskin. We are also moving forward with additional drilling in the southern feature. The project produces through the nearby Lucius production facility, which is operated by Oxy.