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Black Elk Energy Offshore Operations announces the completion of sale of four properties

HOUSTON -- Black Elk Energy Offshore Operations announced today the completion of sale of four non-core properties to a third party. The sale consisted of one non-operated and three operated fields in the Eugene Island, Ship Shoal and South Timbalier areas with net production of approximately 950 boepd.

“This sale will reduce our plugging and abandonment obligations by $30 million plus and release approximately $30 million of cash from the $243 million we have set aside to meet long term plugging and abandonment obligations,” said John Hoffman, President and Chief Executive Officer of Black Elk Energy

04/08/2013

 

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