Houston-based Walter Oil & Gas Corp. said Tuesday that it has finished installing the third-largest fixed conventional platform in the Gulf of Mexico.

The Coelacanth Field platform, located almost 125 miles south of New Orleans, is a 1,312-foot-tall, conventional 4-leg, 9-slot platform. It was built in Gulf Marine Fabricators’ yard in Ingleside, Texas.

Coelacanth Field is in about 1,200 feet of water The platform is designed to produce 30,000 barrels of oil per day and 60 million cubic feet of natural gas per day. It is expected to serve as host for future discoveries in the area, according to the privately-held company, which has a majority stake in the project.