Ship Shoal 349 (Mahogany)
The Mahogany field is located on Ship Shoal blocks 349 and 359, with a single production platform set on Ship Shoal block 349 in 375 feet of water. Phillips Petroleum Company discovered this sub-salt field in 1993. We initially acquired a 25% working interest in the field from BP Amoco in 1999. In 2003, we acquired an additional 34% working interest through a transaction with ConocoPhillips that increased our working interest to approximately 59%, and we became the operator of the field in December 2004. In early 2008, we acquired the remaining working interest from Apache Corporation and we now own a 100% working interest in this field except for one well that is in the Joint Venture Drilling Program. Cumulative field production through 2022 is approximately 61.4 MMBoe gross. This subsalt field consists of nine producing reservoirs at depths of up to 18,000 feet. As of December 31, 2019, 31 wells have been drilled and 26 were successful. Since acquiring an interest and subsequently taking over as operator, we have directly participated in drilling 17 wells with a 100% success rate. During 2018, one well was completed which had been drilled to target depth during 2017, in addition, two wells were drilled and completed during 2018. During 2019, one well was drilled and completed and significant workover activities were done to increase production.