Houston, Texas-based E&P firm Cobalt International Energy has accepted a total of $577.9 million in bids for its Gulf of Mexico assets at the company’s bankruptcy auction.
The auction was held on March 6 but the outcomes have just been revealed.
Biggest gainers from the sell-off are Norway’s Statoil and France’s Total who posted a winning $339 million joint bid for Cobalt’s 60% operated interest in the North Platte discovery.
Total will take over the operating role at North Platte, effective backdated to January 1 this year, and has increased its stake from 40% to 60%.
Statoil now has a 40% non-operated stake in North Platte, which is about 275 km off of Louisiana in about 1,300 metres of water.
Total also successfully bid for a 20% stake in the Anchor discovery for $181 million.
Cobalt filed for bankruptcy on December 14 last year.