Arena Energy clinches $480 million DOE loan for offshore Project Elkhorn in Louisiana
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Arena Energy received a 480 million dollar loan from the Department of Energy. The funds will be used to upgrade 22 offshore platforms located off the coast of Louisiana. This project aims to increase production by up to 38,600 barrels of oil daily. It also seeks to add 77 million cubic feet of gas per day.
Arena Energy has secured a $480 million Department of Energy financing to upgrade 22 offshore platforms off Louisiana, aiming to add up to 38,600 barrels of oil and 77 million cubic feet of gas per day.