Marine Link
Thursday, March 28, 2024

W&T Offshore Acquires Interest in Federal Lease

Maritime Activity Reports, Inc.

December 31, 2007

W&T Offshore Inc. announced it has entered into an agreement with Apache Corp. to acquire Apache’s interest in Ship Shoal 349, a federal offshore lease off the coast of Louisiana, for $116m. “We are excited about acquiring Apache’s interest in the Ship Shoal 349 field,” said Tracy Krohn, W&T’s chairman and CEO. “Better known as Mahogany, (the field) was the first economic subsalt field drilled in the Gulf of Mexico. When consummated, W&T will own 100 percent working interest in the field.” W&T is an independent oil and natural gas company focused primarily in the Gulf of Mexico, including exploration in the deepwater and deep shelf regions.

Subscribe for
Maritime Reporter E-News

Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email five times per week