Total Cashes in Virgo, Matterhorn Chips

Total E&P USA transferred its interests in three offshore lease blocks in the Gulf of Mexico to W&T Offshore. W&T Offshore will acquire Total's 64% interest in Viosca Knoll Blocks 822 and 823, housing the Virgo field, and 100% interest in Mississippi Canyon Block 243, holding the Matterhorn field. The Virgo gas field is located in 1,132 feet of water (345 meters) and commenced production in 1999. At year-end 2009, Virgo reached an average production of roughly 2,000 boed. The Matterhorn field, located in 2,789 feet (850 meters) of water, was discovered in 1999, sanctioned in July 2001 and came into production in November 2003. The field has produced an average rate of 5,000 boed at year-end 2009.

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