Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/wt-offshore-sells-non-operated-non-core-gulf-of-me.shtmlW&T Offshore sells non-operated non-core Gulf Of Mexico shelf asset
W&T Offshore, Inc. has sold all of its working interest in West Delta 29 block (OCS 00385) located on the shelf of the Gulf of Mexico to EPL Oil & Gas, Inc. for
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W&T Offshore, Inc. has sold all of its working interest in West Delta 29 block (OCS 00385) located on the shelf of the Gulf of Mexico to EPL Oil & Gas, Inc. for $21.8 million with an effective date of January 1, 2013, subject to post-Effective Date adjustments. The sale of this non-core asset does not alter our previously issued production or expense guidance.
Tracy W. Krohn, Chairman and Chief Executive Officer, stated, "The sale of this non-core, non-operated property, allows us to accelerate cash flow from the underlying asset. As we have discussed throughout the year, our intent is to continually high-grade our assets and focus on the projects we feel have the greatest potential to create shareholder value."
