W&T completes Fairway purchase from Shell in GoM

Offshore staff

HOUSTON – W&T Offshore Inc. has closed its acquisition of Shell Offshore’s 64.3% interest in Fairway field and also in the Yellowhammer processing plant. The purchase price was $36.7 million.

Fairway is in shallow state waters off Mobile Bay, Alabama. W&T's internal estimates of proved reserves associated with the acquired property as of June 30, 2011, are 39.4 bcf of natural gas and 2.5 MMbbl of natural gas liquids, or 54.5 Bcfe. These reserves were based on SEC reserves definitions and pricing as of June 30, 2011.

08/16/2011



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

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs