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

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.