US-based oil and gas company Apache through its subsidiaries has acquired 14 blocks in the Gulf of Mexico Lease Sale 227, held by the US Department of the Interior's Bureau of Ocean Energy Management.
Of the 14 blocks, nine are shallow water blocks and five are deepwater blocks. The company acquired the shallow blocks on the continental shelf for $2.2m and $24.6m for deepwater blocks.
Apache executive vice president Jon Jeppesen said, "With new acreage, new investments and new ideas, we expect that the Gulf of
Mexico will continue to generate strong cash flows and excellent returns."
The company was the sole bidder for the nine blocks on the continental shelf.
Apache formed a joint venture (JV) for seven blocks in the Main Pass area and is the operator of the blocks holding 75% working interest.
The JV is currently conducting seismic analysis over a 633,000 acre area, using azimuth technology to collect data and images under and around salt dome structures.
In the other two blocks, Apache holds 100% working interest.
Apache holds 50% working interest in the five deepwater blocks it acquired in the lease sale.