Stone Energy buys Ram Powell field in Gulf of Mexico
Stone Energy has completed the acquisition of the Ram Powell Unit, and related assets in the U.S. Gulf of Mexico, from Shell, ExxonMobil, and Anadarko.
The acquisition includes six lease blocks in the Viosca Knoll Area, the Ram Powell tension leg platform, and related assets.
Production for the Ram Powell field averaged approximately 6,100 barrels of oil equivalent per day during 2017.
The Ram Powell TLP is located in 3,200 feet of water in Viosca Knoll Area, Block 956, and is capable of processing 60,000 barrels of oil per day and 200 million cubic feet of gas per day.
Boards of Talos Energy and Stone Energy recently approved the combination of the two companies in an all-stock transaction that will create a “premier offshore-focused exploration and production company.”
Stone Energy’s Interim Chief Executive Officer and President James M. Trimble said the acquisition of the Ram Powell field would support the strategies associated with the previously announced combination with Talos Energy.
“These assets will add meaningful reserves, production volumes, and cash flow to the combined company. I appreciate the efforts of the entire Stone team that contributed to this success,” Trimble said.