Kerr-McGee sheds Gulf shelf assets
Small independent W&T Offshore pays $1.3 billion for about 500 wells producing 25,000 boe per day, sees 95 prospects
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.
[additional news subjects in this story]
Net proved reserves 74% gas
W&T now has 500 wells
You must be logged in to view this story. Please either log in or subscribe.
Click here to subscribe to Petroleum News for as low as $69 per year.
Subscribers log in here to read the entire newspaper (1998 to 05/14/2015)
Print this story | Email it to an associate.
Petroleum News - Phone: 1-907 522-9469 - Fax: 1-907 522-9583
circulation@PetroleumNews.com --- http://www.petroleumnews.com ---
S U B S C R I B E
Copyright Petroleum Newspapers of Alaska, LLC (Petroleum News)(PNA)©2013 All rights reserved. The content of this article and web site may not be copied, replaced, distributed, published, displayed or transferred in any form or by any means except with the prior written permission of Petroleum Newspapers of Alaska, LLC (Petroleum News)(PNA). Copyright infringement is a violation of federal law subject to criminal and civil penalties.