Byron Energy Limited announced it has closed on the acquisition of South Marsh Island Block 58, SM 58 E1 producing wellbore, and the associated SM69 E Platform and Flowlines, for US$4.25 million dollars, being the price effective January 1 st, 2019. Byron now holds all of the rights, title, and interest in and to the SM58 Lease Block with 100% working interest (“WI”) and 83.33% net revenue interest (NRI) to a depth of 13,639 ft. subsea, 50% WI and 41.67% NRI below 13,639’TVD, and 53% WI (44.165% NRI) in the associated non-operated producing assets being the SM69 E Platform, the E1 wellbore, and the E platform to B platform pipelines located within SM69; all part of the greater SM73 Field. The effective date of the transaction is January 1 st, 2019. Lease assignments and other required filings have been submitted for customary recordation and regulatory approvals. CEO Comment Maynard Smith, Byron’s CEO had this to say regarding SM58: “This is a milestone event in the history of our Company and we very much look forward to exploring this lease.”
Byron Energy Limited is an independent oil and natural gas exploration and production company, headquartered in Melbourne, Australia, with operations in the shallow water offshore Louisiana in the Gulf of Mexico. (Source: Byron Energy)