W&T Offshore (WTI) agrees to acquire all of Newfield Exploration's (NFX) Gulf of Mexico...

|By:, SA News Editor

W&T Offshore (WTI) agrees to acquire all of Newfield Exploration's (NFX) Gulf of Mexico properties for ~$228M, in a deal marking NFX's exit from the Gulf. The transaction includes 78 federal offshore lease blocks; 12 are currently producing. During July, average production from the properties was ~8,350 boe/day, 37% oil and ~75% from the deepwater.