In 2017 Cantium acquired two major Gulf of Mexico shallow water fields, Bay Marchand and Main Pass and utilizing our core disciplines transitioned to full operatorship within 60 days of ownership. These fields were strategically acquired as they have a proven production track record, with a strong compliment of more than 140 structures and nearly 300 active wells.
Since taking over operatorship of the fields in September 2017 our highly experienced team has stabilized production decline and grown production significantly with a combination of entrepreneurial spirit, swift capital deployment, facility engineering, effective work overs and new drill programs.
With recent additions Cantium’s Bay Marchand leased acreage extends to nearly 58,000 acres. Split between State and Federal leases to the North and South of Port Fourchon, oil was first discovered in 1949 and peak production reached over 87,000 Barrels of Oil Per Day (BOPD) in 1967. Bay Marchand has produced over 900 million Barrel of Oil Equivalent (BOE) to date. Today Cantium produces oil and gas using 74 surface locations from approximately 150 active wells. Bulk produced fluid is piped onshore to our storage and treatment facility in Port Fourchon. Water depth ranges from 20 to 60 feet and operations are supported from our Port Fourchon shore base.
With over 50 sand horizons and 670 reservoirs mapped, the Bay Marchand field is a truly world class asset with over 2.2 Billion BOE estimated originally in place. Cantium is using advanced seismic interpretation techniques and artificial Intelligence driven data analytics to target the significant volumes of oil remaining.
First discovered between 1956 and 1962, with a total leased area of nearly 90,000 acres, Cantium’s Main Pass blocks include MP41, MP30, MP299, MP144 and MP313. Peak production reached over 100,000 BOPD in 1971. Today Cantium produces oil and gas from 58 structures with approximately 160 active wells.
The assets lie in water depths ranging from 20 to 220 feet and operations are supported from our Venice shore base. With over 135 sand horizons and 408 reservoirs mapped Cantium is using world class seismic interpretations techniques to develop new plays for our exploration drilling program.
After gas separation, all bulk fluids from our Bay Marchand wells are separated and metered at our wholly owned facility in Port Fourchon, consisting of eight main tanks ranging in size from 5,000 to 20,000 Barrels. With water treatment/storage, oil storage and custody transfer meters, Cantium owns and is responsible for all infrastructure from the wellhead to the final sales point.