Black Elk to acquire Gulf of Mexico assets

Black Elk Energy Offshore Operations LLC closed a major transaction with JX Nippon Oil & Gas Exploration Corp. to acquire 27 properties in the Gulf of Mexico.

By OGJ editors
HOUSTON, Oct. 7
-- Black Elk Energy Offshore Operations LLC closed a major transaction with JX Nippon Oil & Gas Exploration Corp. to acquire 27 properties in the Gulf of Mexico.

The transaction represents the fifth acquisition by Black Elk since 2008. The purchase includes 19 fields, with an estimated 15 MMboe of proved reserves, and probable upside in excess of 51 MMboe, the company said.

The acquisition gives Black Elk an aggregate interest in more than 650 wells on 111 platforms across 406,000 gross acres offshore, significantly enhancing its position in the Gulf of Mexico. The acquired assets increase Black Elk’s net production to 12,200 boe/d from 6,000 boe/d.

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