|Monday, August 21, 2000
Kerr-McGee has acquired all of Statoil Exploration's interests in the Gulf of Mexico. Statoil had interests in 93 blocks in the deepwater area of the Gulf ranging from 1,700 feet to more than 9,500 feet in Alaminos Canyon, Atwater Valley, Ewing Bank, Garden Banks, Green Canyon, Keathley Canyon and Walker Ridge. This gives Kerr-McGee interests in 33 new leases and increases its current working interests from 33.33% to 66.67% in 60 blocks. Kerr-McGee now holds interests in about 25 million deepwater acres offshore Australia, Brazil, Thailand, Gabon, Nova Scotia and the United States.