BP is largest stakeholder in Gulf’s first issued deep-water drilling permit since Horizon disaster

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March 4, 2011

While Noble Energy (NBL) made headlines as the first operator to receive a deep-water drilling permit in the US Gulf since the Deepwater Horizon disaster, the Houston explorer isn’t the only concern with a stake in the well. BP is the project’s largest stakeholder, with a 46.5% interest, versus Noble’s 23.25% share. Owning 20.25% of the well is Red Willow Production, the Southern Ute’s oil and gas company, which the tribe started 19 years ago to buy gas wells on its reservation and expanded into an offshore explorer in 2003. An investment group holds the remaining 10% interest.

(c) 2011 Dow Jones & Company, Inc.


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