By OGJ editors
HOUSTON, Apr. 11 -- Energy Resource Technology Inc. (ERT), a subsidiary of Cal Dive International Inc., Houston, has entered agreements to acquire separate, 50% working interests in the Devil's Island discovery on Garden Banks Block 344 E/2 and in the Tulane prospect on Garden Banks Blocks 114/158, both in the Gulf of Mexico.
The deepwater developments are operated by Amerada Hess Corp. and will be drilled this year.
The Devil's Island discovery, in 2,300 ft of water, will be developed via subsea tieback to Baldpate field facilities on Garden Banks Block 260.
ERT will pay the drilling costs and a share of the development costs to earn its 50% working interest in the field. Amerada Hess. will own 40% and Newfield Exploration Co., 10%.
The Tulane prospect, in 1,200 ft of water, is a lower-risk exploration well targeting two deeper sands. The Tulane well will be produced via a subsea tieback to Garden Banks Block 72. ERT will pay a disproportionate share of the initial well cost to earn a 50% working interest, and Amerada Hess will own the remaining 50%.
Cal Dive will use its deepwater construction vessels to install the subsea tiebacks for both fields.
