Westlawn Americas Offshore Expands with Strategic Acquisition
Westlawn Americas Offshore Expands with Strategic Acquisition
Westlawn Americas Offshore LLC (WAO) has successfully completed a transaction to acquire a 30% non-operated working interest in the Z-61, Z-62, and Z-63 blocks. This acquisition marks a significant milestone for WAO, emphasizing its commitment to global expansion.
Details of the Acquisition
The working interest in these offshore blocks was acquired through a Farmout Agreement with Anadarko Peru Limited, a subsidiary of Occidental Petroleum Corporation. This strategic move opens up access to several high-potential exploration prospects already identified in these blocks, along with additional exploration opportunities anticipated in the future.
Occidental Petroleum will continue to operate the blocks, maintaining a 35% working interest. Likewise, Chevron Peru Exploration Limited, a branch of Chevron Corporation, holds the remaining 35% stake in these resources.
Company Leaders Share Their Expectations
Greg Hebertson and George Easterly, Co-Heads at WAO, expressed their enthusiasm about partnering with Oxy and Chevron in this new exploration venture. They believe that the region's potential to yield significant hydrocarbon resources could greatly benefit all parties involved.
Ryan Evans, Managing Director at Westlawn, further added that WAO is broadening its exploration and production capabilities with this promising entry. This partnership signifies WAO's technical expertise and commitment to growth in the energy sector.
About Westlawn Americas Offshore
WAO is headquartered in Houston and focuses on acquiring, exploring, and developing premier deepwater oil and gas assets. The company strategically targets opportunities in the Americas, particularly in the U.S. Gulf of Mexico, Latin America, and the Caribbean. Since its establishment, WAO has engaged in numerous transactions intended to enhance its exploration and production portfolio, seeing its net production soar to nearly 20,000 barrels of oil equivalent per day.
The company’s leadership comprises seasoned professionals with substantial experience in deepwater operations, underpinned by a robust track record of generating value. WAO prioritizes leveraging its unique skill set, capital, and adaptable deal structures to build a distinguished asset portfolio in conjunction with top-tier operators.
About Westlawn Group
Founded in 2021, Westlawn is a private investment firm based in Houston that focuses on strategic capital deployment throughout the global oil and gas industry. Westlawn invests in both operated and non-operated upstream assets, from producing properties to development and exploration opportunities. The firm also explores technologies designed to enhance production and asset performance.
Westlawn's investment strategy spans a broad geographic area, including the U.S. Lower 48 states, Gulf of Mexico, Alaska, Canada, Latin America, the Caribbean, and the Middle East, highlighting its diversified approach to opportunity acquisition in the energy sector.
Frequently Asked Questions
What is the significance of WAO's recent acquisition?
The acquisition allows WAO to access critical exploration opportunities and potentially valuable hydrocarbon resources in offshore blocks.
Who will be operating the Z-61, Z-62, and Z-63 blocks?
Occidental Petroleum (Oxy) will remain the operator of the blocks, holding a 35% working interest.
How does this acquisition benefit Westlawn?
This move expands Westlawn's exploration portfolio and positions the company strategically within a promising energy region, enhancing growth potential.
What experience does WAO's management team have?
The management team consists of seasoned professionals with extensive deepwater experience and a proven track record in the energy sector.
Where is WAO based?
WAO is headquartered in Houston, focusing on deepwater oil and gas asset development in the Americas.
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