Black Elk Buys GoM

Acquired 27 properties in GOM with 19 fields and interest in more than 650 wells on 111 platforms across 406,00 gross acres, gaining 6,200 BOE/d, 15 MMBOE proved.

Black Elk Energy Offshore Operations LLC, a subsidiary of privately held, Houston-based Black Elk Energy LLC has acquired 27 properties in the Gulf of Mexico from JX Nippon Oil & Gas Exploration Corp., a subsidiary of Nippon Oil Corp., Tokyo, (Tokyo: 5001) for an undisclosed price.

The properties consist of 19 fields and aggregate interest in more than 650 wells on 111 platforms across 406,000 gross offshore acres. Production is approximately 6,200 net barrels of oil equivalent per day. Proved reserves are 15 million barrels equivalent and probable reserves are more than 51 million barrels equivalent.

Black Elk now has net production of approximately 12,200 barrels equivalent per day (57% liquids). This is the fifth acquisition by Black Elk since 2008.

Black Elk president and chief executive John Hoffman says, “This acquisition is a meaningful milestone for Black Elk as we close out year three of our offshore operations. We see an exciting future for our company as we continue to build a large, stable and diverse asset base to apply our experienced exploitation skills.”