Saturday, April 28, 2018

Stone Energy To Acquire Ram Powell Unit In US GoM Viosca Knoll Area

Stone Energy Corp. (NYSE: SGY) said April 27 it had agreed to purchase the Ram Powell Unit in the U.S. Gulf of Mexico from Shell Offshore Inc., ExxonMobil Corp. (NYSE: XOM) and Anadarko US Offshore LLC. The acquisition includes 100% working interest in the Ram Powell Unit, which is located in 3,200 ft of water in the Viosca Knoll Area, Block 956, and is capable of processing 60,000 barrels per day (bbl/d) of oil and 200 million cubic feet per day of gas. The terms of the transaction weren't disclosed. The assets comprise six lease blocks and the Ram Powell tension leg platform. Production for the Ram Powell Field averaged roughly 6,100 bbl/d during 2017.

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