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EPL buying some assets from Nexen for $70.4M

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Posted: Jan 2, 2014 5:22 AM

Updated: Jan 2, 2014 5:22 AM

HOUSTON (AP) EPL Oil & Gas Inc. is buying some oil and natural gas assets from Nexen Petroleum Offshore U.S.A. Inc. for $70.4 million.

Houston-based EPL says the assets are in the shallow-water central Gulf of Mexico and currently produce about 900 net barrels of oil equivalent a day, with approximately 95 percent being oil.

The transaction is expected to close later this month.

EPL is an independent oil and natural gas exploration and production company.

Topics: EPL Oil & Gas-Acquisition

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