WORLD

Otto farms-in to new US portfolio of eight wells

OTTO Energy has farmed in to eight new Gulf of Mexico wells, taking varied non-operated shares with the US’s large, privately-owned Hilcorp Energy.

Paul Hunt

Otto now has eight more assets in the Gulf of Mexico

The wells will be drilled over the next 18 months by Hilcorp at an estimated cost of US$75 million. Otto will obtain its working interest through funding 50% of the campaign and will pay US$4 million...

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