W&T Offshore Consolidates Gulf of Mexico Assets with $17.5 Million Bolt-on Acquisition

W&T Offshore acquired the remaining working interests in oil and gas producing properties purchased earlier this year from an undisclosed private seller in federal shallow-water fields located within the central region of the Gulf of Mexico. 

Hart Energy Staff

W&T Offshore Inc. announced a $17.5 million bolt-on acquisition on April 5 consisting of the remaining working interests in three federal shallow-water fields the Houston-based company had initially acquired an interest in earlier this year.

“We were pleased when we were able to purchase our initial interests in these fields in the first quarter of the year and this transaction further consolidates our ownership over those assets,” Tracy W. Krohn, chairman and CEO of W&T Offshore, commented in a company release.

The assets are located in federal shallow waters in the central region of the U.S. Gulf of Mexico at Ship Shoal 230, South Marsh Island 27/Vermilion 191 and South Marsh Island 73 fields. W&T Offshore had initially acquired an interest in the three fields through a $47 million cash acquisition that closed in February.

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