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INPEX Acquires Interest in Walker Ridge Blocks

Source: www.gulfoilandgas.com 2/7/2011, Location: North America

INPEX CORPORATION is pleased to announce that through its wholly owned subsidiary, INPEX Gulf of Mexico Co., Ltd. (INPEX), it has acquired a 15% participating interest in the Walker Ridge 95/96/139/140 Blocks from Shell Offshore Inc.(Shell).

The Walker Ridge Blocks are located 280km off the coast of New Orleans, Louisiana, and cover an area of 87km2, with a water depth at approximately 1,800m. Shell operates with a 70% participating interest and plans to drill an exploratory well during the first half of 2011.

INPEX has participated in oil and gas development projects in the shallow waters of the U.S. Gulf of Mexico since April 2006. Following the production startup from Ship Shoal 72 in July 2006, Main Pass 118 started production in April 2007, and West Cameron 401/402 and Louisiana SL19372 started production in 2008.

The participation in the Walker Ridge Blocks will further expand INPEX's exploration, development and production activities in the U.S. Gulf of Mexico.

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Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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