Mariner ties up StatoilHydro Gulf assets

Houston-based Mariner Energy would buy StatoilHydro’s Gulf of Mexico shelf operations for $243 million.

Mariner said it would take over StatoilHydro unit Hydro Gulf of Mexico, which controls the Norewgian giant’s operations in the region. The deal, which is expected to close by the end of next month, includes estimated proved oil and gas reserves of 52.4 billion cubic feet equivalent, of which 95% are developed. The assets also include 24.1 Bcfe of probable reserves. Production from the assets is 58.2 million cubic feet per day from 32 wells, out of which 71% are operated. The deal also includes 256,000 acres including 11 drill sites. The company said the acquisitions, on the Permian basin’s Spraberry field, included production of about 1250 barrels of oil from 348 wells.
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