Kerr-McGee captures offshore block

Ray Tyson

Petroleum News Houston correspondent

Oklahoma-based independent Kerr-McGee, through affiliate AEP, was the successful bidder on block 3(b) in a proven geologic trend offshore Trinidad and Tobago, the company said. The block, encompassing nearly 160,000 acres in water depths ranging from 130 feet to 3,000 feet, is still subject to final contract negotiations, Kerr-McGee said. Kerr-McGee would operate the 3(b) block with a 75 percent interest. Primera Energy Resources, a local a subsidiary of CL Financial, would own the remaining 25 percent interest.

“This acreage is located along the same trend as the Angostura oil and gas field currently under development,” Dave Hager, Kerr-McGee’s senior vice president responsible for oil and gas exploration and production, said May 11.

He said Kerr-McGee would begin planning for acquisition and evaluation of 3-D seismic of the area once the contract is completed. With the addition of block 3(b), Kerr-McGee would hold interests in more than 61 million undeveloped acres worldwide, with more than 90 percent in deepwater trends.