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EnVen Energy Corporation Announces Acquisition of Neptune and Provides Operational Update at Lobster Field
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HOUSTON, May 24, 2021 /PRNewswire/ EnVen Energy Corporation announced today that it closed a transaction to acquire 35% ownership interest in the Neptune field from BHP Billiton Petroleum (Deepwater) Inc. ( BHP ) through its affiliate, EnVen Energy Ventures, LLC ( EnVen ). EnVen will increase its ownership interest in the Neptune field from 30% to 65% and assume the role of operator after regulatory approvals.
With a strategic deepwater infrastructure portfolio and an expansive inventory of quality subsea tieback projects, EnVen is committed to the deepwater Gulf of Mexico. This acquisition aligns with EnVen s strategy to own and operate infrastructure with steady production and nearby exploration prospects. The Company possesses a material leasehold position comprised of 85 leases with 44 primary term leases and 41 l