W&T Offshore acquires remaining interest in Fairway field (Scandinavian Oil-Gas Magazine)

W&T Offshore acquires remaining interest in Fairway field

Published Sep 23, 2014

W&T Offshore, Inc. has acquired a 35.7% working interest in the Fairway Field and the associated Yellowhammer gas processing plant. With the completion of this acquisition, W&T Offshore now holds a 100% working interest in both assets.

The adjusted purchase price at closing was $18.2 million, plus assumption of asset retirement obligations associated with these properties.

The Fairway Field is located in the shallow state waters of Mobile Bay, Alabama, and the Yellowhammer plant is located onshore in Alabama about 17 miles northwest of the Fairway Field.

Tags: W&T Offshore

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