GoM: Stone Energy completes acquisition of Ram Powell field

Stone Energy has closed the transaction contemplated under the previously announced Asset Purchase Agreement dated the 27^th April to purchase a 100% working interest in the Ram Powell Unit, and related assets, from Shell Offshore Inc, Exxon Mobil Corporation, and Anadarko US Offshore.

On the 27^th April, Stone entered into an Asset Purchase Agreement with Shell, ExxonMobil, and Anadarko to acquire a 100% working interest in the Ram Powell Unit, including six lease blocks in the Viosca Knoll Area, the Ram Powell tension leg platform, and related assets.

Production for the Ram Powell field averaged approximately 6,100 barrels of oil equivalent per day during 2017.

The Ram Powell TLP is located in 3,200 feet of water in Viosca Knoll Area, Block 956, and is capable of processing 60,000 barrels of oil per day and 200 million cubic feet of gas per day.

Source: Energy-pedia