Cox Oil Offshore Purchases Chevron’s Gulf of Mexico Assets

Cox Oil Offshore, a privately owned oil and gas company, has acquired a number of assets in the Gulf of Mexico from US energy giant Chevron, the firm announced Monday.

MEXICO CITY (Sputnik) – In February, Chevron said it planned to sell some of its Gulf of Mexico assets to focus on deep-water opportunities.

"Today’s closing further demonstrates Cox Oil’s dedication to the Gulf of Mexico and the Outer Continental Shelf. We look forward to welcoming the more than 100 Chevron employees that will be joining our team," Chairman and Founder of Cox Oil, Brad E. Cox, said in a press release.

The acquisition package includes 19 hydrocarbons fields in outer shelf and in Louisiana state waters, 170 active wells, 70 platforms, 70 caissons and other offshore structures.

The financial details of the deal are not disclosed so far.