Medco Energi acquires Gulf of Mexico block

Medco Energi US has completed the purchase of East Cameron block 316 from ERT for $18 million.

Offshore staff

LAFAYETTE, Louisiana -- Medco Energi US has completed the purchase of East Cameron block 316 from ERT for $18 million. The transaction, with an effective date of Feb. 25, will increase Medco Energi's production by 10 MMcf/d of gas, or 1,667 boe/d.

The block is immediately adjacent to Medco Energi's currently producing blocks EC 317 and 318. Under an existing production handling agreement, Medco Energi processes the natural gas produced from two subsea wells on EC 316.

03/10/2009

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