Cox Oil acquires Chevron gulf properties

Privately held Cox Oil Offshore LLC, Dallas, has acquired Gulf of Mexico properties from Chevron Corp. that include 19 oil and gas fields and associated assets in federal and Louisiana state waters.

Financial terms weren’t disclosed.

More than 100 Chevron employees will join Cox.

The acquisition includes 170 active wells, 70 platforms, 70 caissons, and other offshore structures.

Production rates covered by the transaction weren’t disclosed.

Last year from the Gulf of Mexico shelf, Chevron produced at average rates of 45,000 b/d of oil, 218 MMcfd of natural gas, and 6,000 b/d of NGL.

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