Kerr-McGee acquires Statoil's leasehold interests in Gulf of Mexico
Kerr-McGee has acquired all of Statoil Exploration's (US) leasehold interests in 93 blocks in the deepwater region of
the Gulf of Mexico. The acquisition gives Kerr-McGee interests in 33 new leases and increases its current working
interests from 33.33 % to 66.67 % in 60 blocks.
The blocks, in water depths ranging from 1,700 feet to more than 9,500 feet, are located in the Alaminos Canyon,
Atwater Valley, Ewing Bank, Garden Banks, Green Canyon, Keathley Canyon and Walker Ridge areas of the gulf.
"The leases in this acquisition complement and add to our existing leases, allowing us to continue creating value
through the development of core areas in this important province," said Luke R. Corbett, Kerr-McGee chairman and CEO.
"Kerr-McGee has a proven track record in deepwater gulf discoveries and has experience with deepwater development and
production as evidenced by its involvement in the Neptune spar and Baldpate articulated compliant tower," Corbett
said.
Kerr-McGee now holds interestsin about 25 mm deepwater acres offshore Australia, Brazil, Thailand, Gabon, Nova Scotia
and the United States.
