This is big news in my opinion for ESPI. Take a look at what else Black Elk Energy has been busy doing...
http://www.blackelkenergy.com/news/2010/10/04/26/black-elk-energy-climbs-new-heights-significant-offshore-acquisition
Black Elk Energy Climbs to New Heights with Significant Offshore Acquisition
Houston, Texas – 04 October 2010 – Black Elk Energy Offshore Operations, LLC, (“Black Elk”) an independent oil and gas company, announced today it closed a major transaction with JX Nippon Oil & Gas Exploration Corporation (NOEX) to acquire 27 properties in the Gulf of Mexico. The NOEX transaction represents the fifth acquisition by Black Elk since 2008. The NOEX purchase includes 19 fields, with an estimated 15 million barrel equivalent (87 bcfe) of proven reserves, and probable upside in excess of 51 million barrel equivalents (304 bcfe). The acquisition gives Black Elk an aggregate interest in more than 650 wells on 111 platforms located across 406 thousand gross acres offshore and significantly enhances its position in the Gulf of Mexico. The NOEX acquired assets increase Black Elk’s net production from approximately 6,000 to 12,200 barrel oil equivalents per day or 73.2 million cubic feet gas equivalent per day (57% liquids). ...
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Sterling
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