One-Page Deal Sheet
Medco Energi Acquires East Cameron Gulf of Mexico Property
Medco Energi Helix Energy Solutions
Announced Date
April 23,2009
Effective Date
February 25,2009
Close Date
March 10,2009
Transaction Type
Property
Enterprise Value (EV)($MM)
18
Location
Calculated Metrics( EV/Category)
Country
United States
Play
Production Production
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
Transaction Details: Subscribe to see
Medco Energi US LLC, LaFayette, La., a subsidiary of Indonesian company PT Medco Energi Internasional Tbk, has acquired East Cameron Block 316 in the Gulf of Mexico from Energy Resource Technology GOM Inc., a subsidiary of Helix Energy Solutions Inc., Houston, (NYSE: HLX) for $18 million.
Medco Energi values the deal at $1.3 per MMBtu on proved plus probable reserves.
The assets include 100% operated interest (83.33% net revenue interest) in the south addition of the block offshore Louisiana comprising 5,800 acres. The block contains two producing wells in depths of 200 feet. Production is…
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