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



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