W&T Offshore Inc. closed a deal Sept. 20 to acquire working interests in eight shallow water oil and gas producing assets in the central and eastern shelf region of the Gulf of Mexico from an undisclosed private seller for $32 million.
The assets include 30,646 gross acres (22,079 net acres), adding producing properties within W&T Offshore's existing area of operations in water depths of 25-265 ft with an average working interest of about 72%, the company said in a release Sept. 21.
Estimated production as of Sept. 12, 2023, is about 2,400 boe/d (42% oil). About two-thirds of the production is operated. The acquisition adds proved reserves of 3.2 MMboe.
Alex Procyk is Upstream Editor at Oil & Gas Journal. He has also served as a principal technical professional at Halliburton and as a completion engineer at ConocoPhillips. He holds a BS in chemistry (1987) from Kent State University and a PhD in chemistry (1992) from Carnegie Mellon University. He is a member of the Society of Petroleum Engineers (SPE).
