9
Prior Drilling Results and Drilling Statistics
The following table sets forth information with respect to the gross and net oil and gas wells we drilled in the deepwater U.S.
Gulf of Mexico during the periods indicated. The information presented is not necessarily indicative of future performance, and should
not be interpreted to present any correlation between the number of productive wells drilled and quantities or economic value of any
reserves found. Productive wells include wells that have been drilled to the targeted depth and prove, in our opinion, to be capable of
producing either oil or gas in sufficient quantities that will justify completion as an oil or gas well. A dry well is an exploration,
appraisal or development well that proves to be incapable of producing either oil or gas in sufficient quantities to justify completion as
an oil or gas well.
U.S. Gulf of Mexico
2015(1)
2014(2)
2013(3)
Wells Drilled
Gross
Net
Gross
Net
Gross Net
Exploration
Productive ..............................................................
3
1.0
1
0.2
1
0.2
Dry .........................................................................
0
—
2 0.2534
2 1.02
Development
Productive ..............................................................
2 0.18750
1 0.09375
—
—
Dry .........................................................................
1 0.09375
— —
—
—
Total.............................................................................
6 1.28125
4 0.54715
3 1.22
(1) The wells noted include appraisal wells at North Platte, Shenandoah and Anchor (all productive) and three
development wells at Heidelberg (two productive and one dry).
(2) The wells noted include our Anchor #1 exploration well (productive), Shenandoah #3 appraisal well (dry),
Yucatan #3 appraisal well (dry) and a Heidelberg development well (productive).
(3) The wells noted include our Shenandoah #2R appraisal well (productive), and our Ardennes #1 (dry) and Aegean
#1 (dry) exploration wells. We did not drill any development wells in the U.S. Gulf of Mexico during the fiscal
year ended December 31, 2013.
The following table sets forth information with respect to the gross and net oil and gas wells that are currently drilling in the
U.S. Gulf of Mexico (including wells that are temporarily suspended) as of the date of this Annual Report on Form 10-K, but does not
include oil and gas wells that have been drilled to their targeted depth and have subsequently been either temporarily or permanently
plugged and abandoned.
U.S. Gulf of Mexico
Gross(1)
Net(1)
2
0.80
(1) The wells noted are (i) bypass coring and sidetrack operations on the initial North Platte appraisal well (60% working interest)
and (ii) the Anchor #3 appraisal well (20% working interest).
Strategic Relationship with Total
On April 6, 2009, we announced a long-term alliance with TOTAL E&P USA, INC. (“Total”) in which, through a series of
transactions, we combined our respective U.S. Gulf of Mexico exploration lease inventory (which excludes our Heidelberg project,
our Shenandoah project, and all developed or producing properties held by Total in the U.S. Gulf of Mexico) through the exchange of
a 40% interest in our leases for a 60% interest in Total’s leases. The initial mandatory five-well program and Total’s obligation to
carry a substantial share of our drilling costs has concluded. Pursuant to the alliance, Total remains obligated to pay its share of the
general and administrative costs relating to our operations in the deepwater U.S. Gulf of Mexico during the 10-year alliance term,
subject to certain exceptions related to retaining executive management-level personnel. We act as operator on behalf of the alliance
through the exploration and appraisal phases of development. Upon completion of appraisal operations, operatorship will be
determined by Total and ourselves, with the greatest importance being placed on majority (or largest) working interest ownership and
the respective experience of each party in developments which have required the design, construction and ownership of a permanently
anchored host facility to collect and transport oil or natural gas from such development. During the 10-year alliance term we agreed to
form a reciprocal area of mutual interest (“AMI”) with Total that covers substantially all of the deepwater U.S. Gulf of Mexico,
