Dynamic acquires Gulf of Mexico properties from XTO

Offshore staff

HOUSTON – Dynamic Offshore Resources has acquired substantially all of the Gulf of Mexico properties of XTO Offshore Inc. and other related subsidiaries of ExxonMobil Corp. for $182.5 million.

The acquired assets have current production in excess of 7,000 boe/d, and represent interests in 79 active leases covering about 130,000 net acres on the Gulf of Mexico shelf.

Based on a reserve report prepared by Netherland, Sewell & Associates, Inc. as of July 31, 2011, the acquired assets contain proved reserves of 13.5 MMboe, of which about 40% is oil and 72% is proved developed. Operated properties comprise more than 90% of the proved reserve value and current production.

08/31/2011



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...