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EOG Selling Out of the Gulf of Mexico


EOG is selling all of their Gulf of Mexico assets which represent a complete exit from the Gulf.  The Company has retained BMO Capital Markets to handle the transaction and they will open their data room September 15.  The assets include interest in 22 blocks, of which 8 are operated, 11 are non-operated and 3 are override blocks.  The total production for the assets  is 26,914 Mcfe/d, 8,070 Mcfe/d operated and 18,844 non-operated, which equates to a net operating cash flow of approximately $2.8 million per month and $34 million annually.

The following is a map of the EOG assets that are being sold which we can see are spread out along the shelf and inland waters of Texas.

EOG prefers to sell all of the properties in one transaction and all bids are due October 14.

Coming soon: DI Energy Strategy Partners will be releasing the Acquisition and Divestiture Pipeline which will include these types of deals and links to information regarding each deal.

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