trending Market Intelligence /marketintelligence/en/news-insights/trending/uQYCbQzpcObeeu9HiX3QlQ2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

W&T Offshore buys 75% stake in Gulf of Mexico field from ConocoPhillips

European Energy Insights July 2020

As COVID-19 Wears On, Regulators Examine Moratorium Extensions, Cost Recovery

Essential Energy Insights - June 11, 2020

Webinar Replay

Deep Dive on Oil & Gas for Financial Institutions

W&T Offshore buys 75% stake in Gulf of Mexico field from ConocoPhillips

W&T Offshore Inc. acquired a 75% stake and operatorship of the Magnolia field in the central region of the deepwater Gulf of Mexico from ConocoPhillips Co. for $20.0 million.

The acquisition is comprised of ConocoPhillips' 75% stake in the Magnolia field offshore Louisiana, as well as the assumption of abandonment obligations associated with the properties, according to a Dec. 12 release. The field produced 2,300 barrels of oil equivalent per day net to ConocoPhillips in October. The deal has an effective date of Oct. 1.

The company said the transaction adds total net proved reserves of 4.1 million boe, 67% oil, as of the effective date and expands its deepwater acreage by 11,500 gross acres, or 8,600 net acres. W&T funded the acquisition using cash on hand and revolver credit.

In September, W&T closed its acquisition of interests in and operatorship of oil and gas producing properties in the Gulf of Mexico from oil major Exxon Mobil Corp. for $167.6 million in cash.

Headquartered in Houston, W&T Offshore is an independent oil and natural gas producer engaged in acquiring, exploring and developing properties in the Gulf of Mexico.