OilVoice - Mærsk A/S Update on Acquisition of Devon Assets in the Gulf of Mexico

Mærsk A/S Update on Acquisition of Devon Assets in the Gulf of Mexico

Monday, January 25, 2010

On 22 December 2009, A.P. Møller - Mærsk A/S announced the agreement between Mærsk Olie og Gas A/S ("Maersk Oil") and Devon Energy Production Company, L.P. regarding the acquisition of interests in the Cascade, Jack and St. Malo fields in the Gulf of Mexico.

The transaction comprised a 50% participating interest in the Cascade field and a 25% participating interest in each of the Jack and St. Malo fields and was amongst other subject to the other partners in the fields waiving their preferential purchase rights.

The partners in the Cascade field and the St. Malo field have exercised their preferential purchase rights and Maersk Oil is now considering its options under the purchase agreement with respect to the Jack field.

View our focused Gulf of Mexico link and stay in touch with the latest news and companies active in this region