The Vermilion 16 Field is located in the transitional coastline in a protected in-bay environment on state leases offshore Vermilion Parish, approximately 40 miles south of Lafayette, Louisiana. It is situated in approximately 12 feet of water. Saratoga operates with 100% working interest and a net revenue interest ranging from 75% to 83% with 3,303 gross/net acres under lease, all HBP. Facilities include a central, unmanned platform.
The field is a four-way rollover anticline on the downthrown side of a down-to-the-south fault. There are multiple stacked reservoirs within the field which has historical production from 30 stacked sands between 10,500′ and 17,000′ in depth. The field is covered by 25 square miles of FairfieldNodal 3-D seismic data.
There are several development drilling opportunities identified, mostly targeting unswept attic reserves updip against the major west-east fault. The ultra-deep Long John Silver Prospect sits underneath the field with potential in Lower Tertiary and Cretaceous objectives.