Superior Energy Services Inc. subsidiary Wild Well Control Inc. has signed contracts with subsidiaries of BP plc, Chevron Corp. and Apache Corp. to decommission seven downed platforms, associated wellbores and other related well facilities located offshore Louisiana for a fixed sum of $750 million.
Apache
Articles from Apache
Transportation Notes
Texas Eastern said Friday afternoon its Main Pass pipeline system had become operational again, with the exception of the Apache-operated Main Pass 7 meter. “At this time wellhead and platform communications are still out for most of the system. Therefore, as production is being restored and before communication links are reestablished, TE requires point operators to notify their operations account manager or Texas Eastern Gas Control (800-231-7794) that their meters are flowing so nominations can be confirmed.” Along with Main Pass 7, South Pass system platforms and the onshore Venice (LA) Plant will remain shut in until further notice, Texas Eastern said.
Phillips Lowers Debt-to-Cap Ratio With Zama Sale
With the sale of the Zama assets to Apache Corp. coming to a closelast week, Phillips Petroleum announced yesterday that the companyexpects to realize approximately $470 million in after-tax proceedsfrom the $490 million dollar sale (see Daily GPI, Jan. 2, 2000).
Industry Brief
Keeping with the company’s self-imposed completion date,Houston-based Apache closed the deal on its previously announced $385million acquisition of an Occidental Petroleum subsidiary (see DailyGPI, Aug. 3). The subsidiary which ownsinterests on the Outer Continental shelf of the Gulf of Mexico will befinanced under a two-part agreement. Part of the cost will be paid upfront, and the remaining cost will be paid for in futureyears. Included in the sale, are properties in 32 fields, half of themoperated, on 93 blocks with total proved reserves of 56.8 millionbarrels of oil equivalent. Net production of the properties throughyearend are expected to yield an average of 107 MMcf/d and 7,800 bblof oil a day. The proved reserves have an estimated six year reservelife.
Transportation Note
El Paso’s delivery meter to Transwestern at the Window RockStation (Apache County, AZ) will be shut in July 24-25 forequipment upgrade
Transportation Notes
Transwestern said the failure of a compressor unit at Station 4(Apache County, AZ) has lowered West of Thoreau capacity from850,000 MMbtu/d to about 750,000 MMbtu/d. The unit is expected toreturn to service Sunday.