May 2016, Vol. 243, No. 5

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Entek to Sell Off Entire Gulf of Mexico Portfolio

Australian Entek Energy Limited has entered into an agreement with Houston-based Peregrine Oil & Gas to sell the company’s entire Gulf of Mexico portfolio for almost $3 million as market conditions continue to take their toll. Entek will be divesting its 38-percent interest in the GA A133 block and its 25-percent interest in the PN 975 block, as well as its royalty interest in two other blocks, VR 341 and 342. By way of background, the GA A133 and PN 975 gas developments have now both been shut-in following their natural depletion and are scheduled to be plugged and abandoned (P&A) during the course of this year and next, according to an Entek press release. As part of this deal,

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