W&T Offshore to buy Gulf of Mexico interests

By OGJ editors
-- W&T Offshore, Houston, has agreed to buy Total E&P USA’s interests in three deepwater blocks in the Gulf of Mexico.

W&T Offshore will acquire a 64% interest in Viosca Knoll Blocks 822 and 823, including Virgo gas field, and a 100% interest in Mississippi Canyon Block 243, Matterhorn oil and gas field. Terms weren’t disclosed.

Total called the interests “nonstrategic assets” and said the transaction completes a reorganization of its Gulf of Mexico business aimed a focusing on deepwater growth.

Virgo, discovered in 1997 in 1,130 ft of water, began producing in 1999 and at the end of last year flowed at an average rate of 2,000 boe/d.

Matterhorn, discovered in 1999 in 2,800 ft of water, has been on production since 2003, flowing 5,200 boe/d at the end of last year.

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