Denmark-based Maersk Oil has purchased Devon Energy Corp.‘s 25% stake in the deepwater Gulf of Mexico Jack prospect in the Lower Tertiary Trend. Maersk in December had agreed to pay $1.3 billion to purchase Devon’s interests in three Lower Tertiary projects: the Jack, St. Malo and Cascade (see Daily GPI, Dec. 23, 2009). However, working interest partners in St. Malo (Chevron Corp.) and Cascade (Petroleo Brasilerio) exercised preferential rights to purchase Devon’s interests (see Daily GPI, Jan. 26). Devon said the aggregate purchase price of its interests in the three prospects remains $1.3 billion; closings are expected by the end of March.

GE Energy Financial Services has partnered in two ventures to acquire West Texas natural gas and North Dakota oil and gas reserves for nearly $200 million combined. In the first transaction the GE unit partnered with independent producer Marlin Energy LLC to form Marlin Permian LP, which acquired West Texas gas reserves from an undisclosed seller for $65 million. The GE unit will be a limited partner; Marlin Energy, based in Lafayette, LA, will serve as general partner and operator. In the second transaction the GE unit and Sequel Energy LLC acquired reserves in the Williston Basin of North Dakota from Denver-based St. Mary Land & Exploration Co. for $137 million. The GE unit will be a limited partner, while Denver-based Sequel will serve as operator and general partner.

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