Entek wades further into GoM

ENTEK Energy is building its presence in the Gulf of Mexico, with the news it has won a block near its recent shallow-water gas discovery, offshore Texas.

High Island Block A 246 was awarded to Entek at the recent Western Gulf Of Mexico Sale 200 and approved last week by the US Department of Interior Minerals Management Service.

The company will pay a total of $US182,000 ($A238,000), including a first year rental charge of $36,000, for the block.

Entek told the Australian Stock Exchange this morning that it was continuing to pursue other opportunities in the Gulf of Mexico.

“With the recent discovery well on High Island Block 24L and a portfolio of acreage with low risk prospects ready for drilling, Entek is very well positioned in this low risk, mature oil and gas exploration region,” the company said.

Last Thursday, the company announced that its first offshore Texas exploration well had penetrated more than 250 feet (76.2m) of gas pay after reaching a total depth of 14,988ft. Entek holds a 5% interest in the well, which is located on the High Island Block 24L.