Kerr-McGee sheds Gulf shelf assetsSmall independent W&T Offshore pays $1.3 billion for about 500 wells producing 25,000 boe per day, sees 95 prospects Allen Baker For Petroleum News
Kerr-McGee has essentially completed its corporate realignment with the sale of its Gulf of Mexico shelf properties for $1.34 billion in cash, plus assumption of abandonment liabilities, figured at roughly $135 million. Buyer is small independent W&T Offshore, which just went public last year.
“The....
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Net proved reserves 74% gas W&T now has 500 wells
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