Renaissance buys into 9 GoM fields
- Business & Finance
Black Elk Energy Offshore Operations, an independent oil and gas company headquartered in Houston, Texas has entered into a Purchase and Sale Agreement with Renaissance Offshore, a privately held Houston based oil and gas company.
Under the agreement, Renaissance will acquire interests in 9 fields in the Gulf of Mexico, which includes 7 operated and 2 non-operated.
Subject to customary closing conditions, the sale is expected to close in August 2014.
Renaissance Offshore was founded in December of 2011, in partnership with Quantum Energy Partners, to acquire and redevelop legacy oil properties on the Gulf of Mexico shelf. The company focuses on selective acquisitions of mature, oil-weighted properties and the redevelopment of those assets to unlock hidden value by deploying technology, capital and the collective experience of a seasoned management team.