Murphy Oil and Talos Energy now own fields near BP's infamous Macondo well.
A decade ago this week, BP’s drillers on the Deepwater Horizon platform lost control of a well they were drilling called Macondo, which blew out and ignited an explosion that killed 11 on the rig and triggered the spill of 4 million barrels into the Gulf of Mexico.
Amid the devastation, BP had proven there was a lot of oil down there below the waters of the exploration block known as Mississippi Canyon 252. But would anyone dare go after it? The Obama administration’s “” temporarily halted drilling in the Gulf, and many operators went out of business rather than deal with tighter regulations and higher costs. With 2010 oil prices then at $80 a barrel there seemed to be plenty of options.
But far from becoming a dead zone, the waters around the fateful Macondo site have been teaming with activity. Arguably the most active operator in the neighborhood has been Covington, Louisiana-based LLOG Exploration., LLOG’s press-shy founder Gerald Boelte wasn’t going anywhere. According to company and industry reports LLOG started acquiring assets while the oil was still spilling from Macondo, and more than a dozen leases in 2012. In 2014 it bought out BP’s interests in the MC 252 block .
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