W&T Offshore Snags $47 Million Shallow-water Acquisition in Gulf of Mexico

W&T Offshore entered a definitive purchase and sale agreement to purchase the oil-weighted operated producing properties from privately-held ANKOR E&P Holdings Corp. and KOA Energy LP.

Hart Energy Staff

W&T Offshore Inc. on Jan. 10 agreed to a $47 million cash acquisition of producing properties in the Gulf of Mexico Shelf as the region’s A&D environment improves, according to CEO Tracy W. Krohn.

“Acquisitions are a core component of how we create value at W&T and this transaction is another great example of an acquisition that adds value for our stockholders,” commented Krohn, who also serves as chairman of the W&T Offshore board, in the company release.

The Houston-based company entered a definitive purchase and sale agreement to purchase the oil-weighted operated producing properties from privately-held ANKOR E&P Holdings Corp. and KOA Energy LP. The pair of companies had previously retained Detring Energy Advisors and Oil & Gas Asset Clearinghouse LLC to market for sale the assets located in the central region of the Gulf of Mexico Shelf. 

Already have an account? Log In

Sign up for FREE access to view this article now!

Unlock Free Access