Stone Energy to acquire stake in gulf assets from BP

By OGJ editors

Stone Energy Corp. agreed to acquire BP PLC’s 75% operated working interest in the deepwater Pompano field and other assets for a total of $204 million.

In addition, Stone plans to acquire a 51% operated working interest in the adjacent Mississippi Canyon Block 29, a 50% nonoperated working interest in Mica field that ties back to the Pompano platform, and interests in deepwater exploration leases near Pompano field.

Pompano platform is a four-leg, 12-pile fixed structure in 1,300 ft of water with 23 producing wells and production capacity of 60,000 b/d of oil and 135 MMcfd of gas.

The acquisition is subject to preferential rights, due diligence and other customary closing conditions, and is expected to close by early 2012.

Stone Energy is an independent producer based in Lafayette, La.

Related Articles

Judge bars Anadarko e-mails as evidence in Macondo blowout hearing

03/21/2014 A federal district judge in New Orleans refused to accept e-mails between Anadarko Petroleum Corp. and BP PLC as evidence in a hearing to determine...

Industry group welcomes most UK budget moves

03/21/2014 Oil & Gas UK voiced support for all but one of several measures affecting the offshore producing industry announced in the UK government’s annu...

MARKET WATCH: Crude oil, gas futures prices slide entering spring

03/21/2014

The first day of spring in the northern hemisphere was marked by lower crude oil and natural gas futures prices.

OMV acquires West of Shetland licenses from Hess

03/21/2014 OMV AG has reached an agreement with Hess Corp. to acquire four licenses in West of Shetland, UK, including Cambo field and the Blackrock prospect,...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected