Leed Petroleum Plc

Transaction Type
Sellers
Marketers
Basin
Gulf of Mexico
Post Date
Close Date
Estimated Price
0MM
Description

Leed Petroleum Plc has retained Macquarie Tristone to sell the company or its assets in the Gulf of Mexico.

The package includes an average 25% to 100% working interest in 17 operated and nonoperated offshore blocks featuring 21 wells in four Gulf of Mexico shelf fields in water depths less than 200 feet and one nonproducing onshore property.

Net production is 481 barrels of oil and 3.8 million cubic feet of gas (43% liquids) for a total of approximately 1,114 barrels of oil equivalent per day. Proved reserves as of July 1, 2010 were approximately 11.5 million BOE and probable reserves were 9.1 million BOE.

Upside includes probable and potential reserves of 69 million BOE and several ready-to-drill prospects .

The bid due date is in early February. The closing will be in early March. Contact Tom Duncan, 713-651-4223, tom.duncan@macquarie.com.