Overhead Funding

Mezzanine Financing

First Acquisition

HI A521 Drilling Program

WC 639/648 Drill Program

After acquiring WC 639/648 from Kerr McGee and completing an integrated field study utilizing reprocessed PSTM 3D seismic data, Arena executed a four well drilling program through the year 2001 and followed up with one more well in 2002. The wells were successful Pleistocene gas producers which lead to the field producing 38 MMCFD, the field’s highest rate since 1994.

Wells Fargo Credit Facility

AOP I Formed

Pelto 25 Drill Program

By November 2003, Arena had drilled two oil wells at South Pelto 25: PL 25 JB-1 ST and PL 25 #5. These wells resulted from a block evaluation deal field study which utilized 3D PSTM seismic and AVO analysis. The #5 well found over 1 MMBOE and produced at rates in excess of 1,000 BOPD from the Miocene-aged oil sands.

Noble Block Evaluation Agreement

Arena entered into a block evaluation agreement with Noble Energy. A detailed 3D evaluation was performed on this multi-block field, which led to the drilling of several wells and one recompletion.

Acquired Apache EI 100 Oil Field

Arena’s involvement in this 50-year-old oil field began with a farm-out and the successful drilling of two wells. In 2004, Arena acquired the remainder of the field and has drilled or sidetracked a total of nine wells. Since the acquisition, the field has produced more than 8 million BOE with plans for additional exploration and development drilling.

Noble Multi-Field Acquisition

Maritech Drill Program

In September and October 2004, Arena drilled and completed three successful Pleistocene gas wells at WC 586. The wells were a result of a 3D seismic-based integrated field study, and a block evaluation deal with partner Maritech. The three new wells added 27 MMCFD of daily production and ultimately produced 11 BCFE.

EC 328 Oil Field Acquisition and Drill Program

Arena acquired a 50% interest in EC 328 in 2005 for cash and a drilling commitment. A very successful shallow oil development program was conducted consisting of five new wells and one workover.

VR 71 #1 Discovery Well

The VR 71 lease was approaching the end of its primary term. Arena recognized the potential and filed an SOO with the MMS. This allowed us time to move a rig on location to drill the VR 71 #1 well. Arena later acquired the rights to drill on offset blocks: VR 52, VR 72 and SM 233. Successful wells were drilled on all four blocks, with estimated production from this complex exceeding 40 BCF.

2005 Hurricane Season

Formed Exploration Company

EI 57/58 Drill Program

Early in 2006, Arena finished a two-well drilling program in the EI 57 Field (EI57, 58, 38). The prospects were a result of a block evaluation field study with partner North Star and utilized proprietary reprocessed pre-stack depth 3D seismic data. The #7 and #8 wells each found multiple gas sand stacked reservoirs on Miocene-aged fault closures. Two additional successful wells (#16 and #17) were drilled in adjacent fault closures during 2008.

WD 86 Drill Program

Operationally, the WD 86 field was extremely busy during 2006, when Arena drilled five wells: one from the "A" platform and four from the "B" platform. These wells encountered multiple stacked Pliocene and Pleistocene gas reservoirs along with minor amounts of oil.

Strategic Shift to Oil

EC 328 "B" Drill Program

An open-water exploratory discovery led to the setting of the EC 328 B platform and a development with successful oil producers.

Arena Foundation Formed

As Arena Energy and our affiliate company Arena Offshore grew and prospered, the founders sought opportunities to give back to local and global worthy causes.

EI 100 Drill Program

Arena interpreted additional data sets and remapped this field, which led to drilling the #27, #43 and #44 wells. These discoveries greatly improved the field economics.

2008 Hurricane Season

SMI 79 Acquisition and Drill Program

On this block, Arena acquired a 50% interest in a mudline suspended discovery well. After being assigned operatorship in the block, Arena set a platform and drilled additional development wells, resulting in a successful three-well development program.

Deepwater Discoveries

Arena was offered participation with Newfield in drilling GB 293 and MC 800. After evaluation, Arena elected to join in drilling these two prospects. Both opportunities were successful and are currently producing at high rates.

Chevron Joint Venture

Gas Price Decline

EI 99 Oil Discovery

Based on knowledge gained from working the adjacent EI 100 field, Arena identified and drilled these two high-quality prospects. A small platform was installed with production flowing to EI 100. To date, these two wells have produced over 1.7 MMBO.

First Riker Drill Well

A team of geoscientists and engineers worked together to evaluate this field. The #7 well was the first delineation well drilled, but the Macondo incident prevented its completion. This well was later renamed the K-1, and was drilled to its primary objective. It is currently producing over 2,000 BOPD.

Macondo Permit-torium

ST 161 C-11 ST#4 Oil Discovery

Building on our prior success in the field, Arena remapped this block using a newly available PSDM seismic data set. The effort resulted in a discovery exceeding one million barrels of oil within this predominately gas-producing field.

EC 328 "C" Re-Drill Program

The EC 328 C platform was set at the site of the EC 328 A structure toppled by Hurricane Ike. A successful redevelopment program of nine wells was then conducted.

EI 314 Drill Program

In 2010, Arena leased the N/2 of EI 314 in Central Gulf of Mexico Sale 213. In 2011, Arena purchased the S/2 of EI 314 from Exxon. (See “Exxon Oil Field Acquisition.”) A drilling program commenced on both leases in May 2012 with two separate drilling operations. The "C" platform drill program—utilizing the H&P 105 rig—got off to an excellent start, as five prolific oil wells were drilled and completed from this platform during the year. The most significant was the C-3ST well, which added nearly 2 MMBO of proved reserves and produced at rates in excess of 1,000 BOPD. The N/2 drilling program, which utilized the Hercules 300 rig, delineated stacked Pleistocene oil sands in three fault blocks totaling over 7 MMBO. These newly discovered reserves would later be developed with wells drilled from the S/2 "C" platform with the H&P 105 rig. The field’s production rate was increased from 2,000 BOPD to over 6,000 BOPD as a result of the drill program’s success.

Riker Platform Set and Drilling Program Begins

After the #7 delineation well was halted because of Macondo, Arena studied our options and elected to proceed with installation of a new 20-slot platform. In 2012, the platform was set and drilling commenced.

VR 342 Platform Set and Drill Program

Arena acquired 50% interest in this project and was named operator of the field. A platform was set and a successful three-well oil development program was conducted. Production from this field is processed at Arena's nearby EC 328 oil production facility. Considerable future exploration and development activity is planned for this field.

Lease Sale – Central Gulf 2012

After a leasing hiatus, many blocks were available for the first time in the Central Gulf Lease Sale. Arena evaluated a number of blocks and became the successful bidder on a total of 17.

McMoRan Multi-Field Acquisition

This acquisition from McMoRan Exploration added to the company's inventory of assets in the highly prolific Eugene Island area of the offshore Gulf of Mexico. These fields present multiple future development opportunities within the core of Arena's focus area.

Riker Drill Program Continues

Arena continued our detailed field study of the Riker area. By the end of 2013, Arena had drilled and completed eight wells with production totaling over 4,000 BOPD. Arena has plans to drill wells from all 20 slots.

EI 314 Drill Program Continues

Throughout 2013, the EI 314 "C" platform continued to operate, yielding 13 total wells drilled. By year-end, plans and facility modifications were in place to commence the drilling of development wells from the S/2 "C" platform to the N/2 PUD targets proved up by the 2012 N/2 delineation program. Plans were also put in place to modify the "C" platform and add six new well slots. In addition to sidetracking all but one of the original "C" wells and utilizing four previously used (open) slots, these new slots will allow Arena to drill a total of 23 wells from the "C" platform.

HI A547 #6 Exploratory Well

The HI A547 #6 Deep Glob Alt wildcat discovery was made in August 2013. The prospect was an amplitude supported test of Glob Alt sands trapped in a deep graben structure (#6 TD 15,665’ MD, 15,198’ TVD). This feature is in close proximity to the HI A572 field complex, which has experienced tremendous production and huge ultimate recoveries from the same Glob Alt section. The 547 #6 well encountered 140’ net gas pay. The gas reservoirs encountered will be very rich in associated condensate production. Arena will build and install a platform and commence the development of the discovery in early 2015.

ST Deep Chevron Joint Venture

A joint venture with Chevron, ST Deep involves three large legacy oil fields which have produced 300 million barrels and 1.5 TCF. In 2014, Arena commenced a drilling program of up to 25 wells and will ultimately earn a 70% operated interest in the asset.

AOP III Formed

MP 123 Acquisition

15th Anniversary of the Company

Set HI A547 "C" Platform

Oil Price Decline

EI 341 Acquisition

Riker Drilling Program Complete-20 Wells

Installation of K and AA Platforms

Chevron Acquisition

341 Gorilla Drilling Program

ST 161 Re-Route

W&T Acquisition

314 Drilling - Finished

ST 131K Re-Route to ST 151

WC 544 Drill Program

EI 182 Drill Program

White Fleet Drilling Formation

EI 251 Drill Program

2017 NOIA Safety in Seas Culture of Safety Award

Rosefield Pipeline

Most Valuable Company (Operator) Award

Awarded the Most Valuable Company (Operator) by the Offshore Operators Committee