Louisiana Properties Acquisition Boosts Black Elk's Size 30%
Black Elk Energy, LLC has acquired from Stone Energy Corporation interests ranging from 2.6 to 33.3 percent in West Cameron Blocks 34, 35, 65 and 66 located in federal waters off the coast of Louisiana. The properties are operated by Apache Corporation. "This is another step in our strategic growth blueprint for Black Elk Energy," said John Hoffman, Black Elk's President and CEO. "The acquisition involves 20,000 acres, and boosts our size 30 percent. It is consistent with our low risk, exploitation strategy."
The acquisition includes interests in 51 wells on 11 platforms throughout the field. The company also acquired interests in associated infrastructure, including a shore separation facility, the Gibbstown terminal in Cameron, Louisiana, and 14 pipelines totaling 204,258 feet. Financial terms were not disclosed. The transaction was completed on April 4.