First Reserve, a leading global private equity investment firm exclusively focused on energy, today announced an agreement to sell the Deep Gulf Energy companies (“DGE”), a deepwater oil and gas exploration and development business operating in the Gulf of Mexico, to Kosmos Energy
Stone Energy Corp. (NYSE: SGY) reported the Rampart Deep well encountered about 130 net feet of liquids-rich natural gas pay in three primary zones on Sept 5. Stone generated the prospect and owns a 40% non-operated working interest in the well.
Based in Houston, Deep Gulf Energy is a privately-held exploration and production company focused solely in the Deepwater Gulf of Mexico. There are three Deep Gulf Energy companies that hold interests in federal leases in the Deepwater Gulf of Mexico, being Deep Gulf Energy LP, Deep Gulf Energy II, LLC and Deep Gulf Energy III, LLC. (Collectively Deep Gulf Energy)
Most of the projects operated by the three Deep Gulf Energy companies for the deep-water US Gulf of Mexico follow a basic subsea tie-back pattern. The projects typically require one to three wells, a flowline, an umbilical and some processing equipment on the host platform.