In 2017 Cantium acquired three major Gulf of Mexico shallow water fields: Bay Marchand, Main Pass 41, and Main Pass 299. Since taking over operatorship of the fields in September 2017 our highly experienced team has reduced field declines, increased production, and enhanced the company’s drilling opportunity set through a combination of facility engineering, effective work overs and new drill programs.
Main Pass 41
First discovered in 1956, MP 41 reached a peak production rate of over 70,000 BOPD in 1971. Today, Cantium holds over 66,000 acres across MP 30, MP 59, MP 41 and adjacent blocks, and produces from about 80 active wells across 46 structures. The field is completely independent with numerous locations providing gas compression and dehydration, and a large central processing facility in MP 42 providing oil treating, metering and sales as well as water treating and disposal. There are three gas sales and export pipelines from the field. Water depths range from 20 to 70 feet and operations are supported from Cantium’s shorebase in Venice, LA.
Main Pass 299/313/144
Located more than 20 miles offshore, the MP 299 field is Cantium’s deepest, sitting in 200-220 feet of water. The MP 299 field includes two additional fields in MP 144 and MP 313 that operate independently of the other eight structures in MP 299. Discovered in 1962, MP 299 reached peak production in 1992 with over 45,000 BOPD. Cantium leases over 24,000 acres across MP 299, MP 144, and MP 313 and produces over 80 active wells across 12 facilities. MP 299 operations are also supported from Cantium’s Venice shorebase.
Located to the west of the mouth of the Mississippi river, Cantium maintains ~58,000 net acres in Bay Marchand. The Company’s acreage footprint is split between State and Federal leases. Oil was first discovered in 1949 and peak production reached over 87,000 Barrels of Oil Per Day (BOPD) in 1967. To date, Bay Marchand has produced over 900 million Barrels of Oil Equivalent (BOE).
Today, Cantium produces oil and gas using 74 surface locations from approximately 150 active wells. After gas separation, all bulk fluids from our Bay Marchand wells are separated and metered at our wholly owned facility in Port Fourchon. The Company’s tank farm consists of eight main tanks ranging in size from 5,000 to 20,000 barrels. With bulk separation, water treatment and disposal, oil treatment and storage, gas dehydration and compression, and final custody transfer metering, Cantium owns and is responsible for all infrastructure from the wellhead to the final sales point. Water depth in Bay Marchand ranges from 20 to 60 feet and operations are supported from our Port Fourchon shore base.
Port Fourchon Tank Farm
After gas separation, all bulk fluids from our Bay Marchand wells are separated and metered at our wholly owned facility in Port Fourchon. The Company’s tank farm consists 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.