Oilfield services firm Baker Hughes, a GE Company (BHGE), has entered into a strategic partnership with oil company W&T Offshore for some drilling projects in the US Gulf of Mexico.
Both firms are based in Houston, Texas. Their partnership will cover part of a joint exploration and development (E&D) programme that W&T has going with a group of investors and which includes the drilling of 14 wells over a three-year period.
BHGE will provide integrated oilfield services, equipment and expertise to reduce projects costs and speed up time to first production.
W&T’s joint E&D agreement with investors was announced in mid-March and covers W&T-held leases.
An initial capital investment of $230.5m has been agreed by the investor group and W&T, enough to cover costs of drilling, completion and tie-in of several of the wells.
