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Devon ups Kaskida stake
By Upstream staff
Devon Energy has increased its ownership in the Kaskida Unit in the deepwater Gulf of Mexico bringing its working interest up to 26.67% said Stephen J Hadden, vice president of exploration and production.
Devon exercised a preferential right to buy its proportionate share of unit-partner Anadarko Petroleum's interest in Kaskida, which was 6.67%.
"We are pleased to have an opportunity to increase our ownership in the Kaskida discovery," said Hadden in a statement.
The 51,800-acre Kaskida Unit covers nine blocks in the Keathley Canyon deepwater lease area of the Gulf of Mexico.
The US independent company has currently identified an inventory of 20 exploratory drilling prospects.
Devon now has a 26.67% working interest in the Kaskida Unit and BP Exploration & Production has a 73.33% working interest.
BP is the operator of the Kaskida Unit.
Tuesday, 22 April, 2008, 16:13 GMT | last updated: Tuesday, 22 April, 2008, 16:32 GMT
