Gulf Coast Western LLC has acquired a 50% working interest in certain assets and has partnered with Northcote Energy Ltd. to accelerate and expand Northcote’s drilling operations in the Shoats Creek Field located in southwest Louisiana.
Currently, the plans call for a multi-well drilling program in the Wilcox, Frio, and Cockfield formations. Gulf Coast Western explores, develops, and acquires domestic oil and gas reserves primarily in the Gulf Coast region, with operations in six states.
As part of the deal, Gulf Coast Western purchased a 50% working interest in the Lutcher Moore #20 well, along with certain saltwater disposal (SWD) assets including an operating SWD well, and a 25% working interest in any wells drilled in the Wilcox formation. The Lutcher Moore #20 well was placed into production in February and is currently producing in excess of 100 bop/d. The deal also includes a 50% working interest in four wells to be drilled in the Frio and Cockfield formations in the next 12 months.
Terms of the deal, which closed Feb. 1, were not disclosed.