Genesis Energy, L.P. Signs New Deepwater Gulf of Mexico Transportation Agreements
Genesis Energy, L.P. Common Units (GEL)
Last genesis energy, l.p. common units earnings: 2/19 06:10 am
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Source: Business Wire
HOUSTON--(BUSINESS WIRE)--Genesis Energy, L.P. (NYSE: GEL) announced today that it has entered into agreements with Fieldwood Energy LLC (“Fieldwood”), Ridgewood Katmai, LLC and ILX Prospect Katmai, LLC, two entities managed by Ridgewood Energy Corporation, to provide downstream transportation services for 100% of the crude oil production associated with the deepwater Gulf of Mexico Katmai field development through the existing Tarantula production platform (“Tarantula Platform”), owned by Fieldwood.The Tarantula Platform, located in South Timbalier block 308, has the capability to process up to 25,000 barrels per day of oil from the Katmai field development. The Katmai field development is located in Green Canyon blocks 39 and 40.The Tarantula Platform is currently connected to our 100% owned Tarantula lateral and the crude oil production will then be delivered to our 64% owned Poseidon crude oil system for delivery to shore.The contracts for the Katmai field include life of leas
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