LlogExploration has taken over operatorship of the Buckskin oilfield in the deep-water US Gulf, the Lower Tertiary discovery where Chevron bowed out last January amid high development costs.

Spanish major Repsol assumed operatorship last spring, saying it would examine the potential for developing the discovery, with an eye to a decision by the fourth quarter of 2016. That effort met another snag in November when minority partner and Danish player Maersk said it would exit the block due to its “challenged economics”.

But