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Kommandor LLC
12 Months Ended
Dec. 31, 2014
Kommandor LLC [Abstract]  
Kommandor LLC

Note 5 — Kommandor LLC

 

In October 2006, we partnered with Kommandor RØMØ, a Danish corporation, to form Kommandor LLC, a Delaware limited liability company, the purpose of which was to convert a ferry vessel into a ship-shaped dynamically-positioned floating production unit vessel.  Upon completion of the conversion in April 2009, the vessel (the HP I) was leased to us under a bareboat charter.  We subsequently installed topside oil and gas processing equipment, at 100% our cost, that allows the HP I to serve as a floating production system primarily servicing fields in the Deepwater of the Gulf of Mexico.  In June 2010, the HP I was certified for use as a floating production unit by the U.S. Coast Guard.  The HP I initially participated in the Macondo well control and containment efforts.  Subsequently, the HP I mobilized to the Phoenix field where production commenced in October 2010.  The HP I is under contract with ERT to service the Phoenix field through at least December 31, 2016.

 

The consolidated results of Kommandor LLC are included in our Production Facilities segment.  We owned approximately 81% of Kommandor LLC at December 31, 2013.  In February 2014, we acquired Kommandor RØMØ’s noncontrolling interest (approximately 19%) in Kommandor LLC for $20.1 million.