Energy Partners (EPL) has signed an agreement to acquire producing oil and natural gas assets from Anglo-Suisse Offshore Partners in the shallow-water central Gulf of Mexico (GOM) shelf for $201.5m.
The properties consist of three main complexes and field areas in Main Pass blocks 296/301/311, South Pass blocks 33/49, and West Delta blocks 26/27/28/29/47 on the GOM shelf.
The assets are currently producing approximately 3,000 net barrels of oil equivalent (boe) per day about 92% of which is oil.
The currently estimated asset retirement obligation to be assumed in the acquisition is expected to total approximately $30m.
The purchase, which is expected to close in the first quarter of 2011, is subject to preferential rights-to-purchase held by other working interest owners in a number of the properties.