W&T Offshore Inc., Houston, has agreed to acquire working interests in and operatorship of oil and gas producing properties in Federal shallow waters in the central region of the Gulf of Mexico (GoM) for total cash consideration of $47 million from privately-held ANKOR E&P Holdings Corp. and KOA Energy LP.
The assets—at Ship Shoal 230, South Marsh Island 27/Vermilion 191, and South Marsh Island 73 fields—include 53 producing wells and 16 structures and increase W&T’s Federal shallow water acreage by about 57,500 gross acres (46,000 net acres).
Current estimated production from the properties is 2,500 b/d of oil and 5.4 MMcfd of natural gas, or a total of 3,400 boe/d. The operator estimates proved reserves as of July 1, 2021 (assuming strip pricing as of Dec. 7, 2021) were 5.5 MMboe, of which 69% is oil. Substantially all of the proved reserves are proved developed. Using the same assumptions, estimated proved and probable (2P) reserves were 7.6 MMboe (75% oil).
The deal is expected to close by end first-quarter 2022.
