W&T to take Total stakes

 16 April 2010 01:35 GMT

US independent W&T 
Offshore has entered into an agreement to acquire French producer Total’s interest in the Matterhorn and Virgo fields in the Gulf of Mexico.

The Houston-based operator will gain stakes in Mississippi Canyon Block 243 and Viosca Knoll blocks 822 and 823.

Terms of the cash deal, 
expected to close during the second quarter, were not 
disclosed.

The Matterhorn field, in Block 243 started producing in 2003. By the end of 2009, it was producing an average of about 5200 barrels of oil equivalent per day.

The field is produced via 
an Atlantia-designed SeaStar 
tension-leg platform.

The Virgo field began producing in 1999 and was averaging about 2000 boepd gross at the end of 2009.

Reserves at Virgo are produced…

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