LLOG Exploration Discusses Recent Accomplishments and Provides Operational Update for 2024

April 2, 2024

COVINGTON, La., April 02, 2024 (GLOBE NEWSWIRE) — LLOG Exploration Company, L.L.C. (“LLOG” or “the Company”), a privately-owned exploration and production company focused on the deepwater Gulf of Mexico (“GOM”), today provided an operational update.

Company Highlights:

Increased gross operated production at the end of February 2024 to over 110 thousand barrels of oil equivalent per day (“MBOE/d”) (84% oil); LLOG’s net production increased to 38 MBOE/d (85% oil) at the end of February 2024; Successfully executed multiple rig contract extensions, ensuring operational continuity and efficiency to execute the Company’s strategic plan; Extended the Seadrill West Neptune rig through the second quarter of 2025, with additional extension options available;Secured the Noble Valiant rig, which is equipped with Managed Pressure Drilling capabilities, for one year into the first quarter of 2025; Brought online the Taggart field in 2023 with three wells where LLOG is the operator and owns a 100% working interest;Successfully commenced production of additional wells at the Buckskin and Spruance fields where LLOG is the operator and owns 33.8% and 22.6% working interests, respectively;Plan to drill and complete multiple wells across the LLOG-operated Buckskin Field (KC 785, 786, 828, 829, 830, 871, and 872), Leon Field (KC 642, 643, 686, and 687), and Castile Field (KC 736); andStrategically acquired three leases in BOEM’s Gulf of Mexico Lease Sale 261 in December 2023 within the Company’s existing Salamanca capture area, increasing its total number of leases to 18 in the area, and expanding its operational footprint and future potential.

Key Developments for Who Dat Field:

Kicked off Phase Two development at the Who Dat field with workovers, recompletions and sidetracks, and initiated operation of a subsea pump;Completed and tied back two wells at the Who Dat field boosting gross oil production to the highest level in the field since 2016; andThree additional Who Dat area prospects are planned to be drilled in 2024 with the potential to be tied back to the Who Dat floating production system.

Philip LeJeune, President and CEO of LLOG, commented, “As shown from our recent results and accomplishments, LLOG continues to execute our strategy of developing deepwater GOM projects in our core areas. We have been able to grow oil production at our Who Dat field through discoveries, sidetracks and recompletions to the highest level since April 2016. In addition to Who Dat, we brought online our Taggart field and additional wells at Spruance and Buckskin fields. We are excited about our future as we are in various stages of development for multiple projects including the Leon and Castile developments that will continue to grow our footprint in the deepwater GOM. We are proud of our achievements and reputation as a trusted operator and how those principles extend into our commitment to safe practices, environmental stewardship and adhering to the highest ethical standards.”

About LLOG

LLOG Exploration Company L.L.C. is a privately-owned exploration and production company in the United States. LLOG’s corporate headquarters is in Covington, Louisiana and the Company has an office in Houston, Texas. For additional information, visit the Company’s website at www.llog.com.

Contact:    Eric Zimmermann    985-801-4300

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