Dallas-based independent oil and gas firm Cox Oil Offshore has completed the purchase from Chevron of all the supermajor’s shallow-water assets in the Gulf of Mexico.
In total that means 19 fields and associated assets in the continental outer shelf and Louisiana state waters. The associated assets include 170 active wells, 70 platforms, 70 caissons and other offshore structures.
As part of the deal, the money value of which has not been announced, Cox will be taking on around 100 Chevron employees.
Chevron in February said it would sell off some of its Gulf properties to concentrate on deep-water projects.
Last month the San Ramon, California-based multinational axed 655 staff as part of its planned 4,000-person pruning for this year.
Last year it let go around 3,000. So far, in its reaction to the plunge in oil prices Chevron has whittled down its workforce by about 10% since the end of 2014.
