White Marlin, the Houston-based privately held upstream oil and gas production company, has acquired assets from Dune Energy for $19million.
The Dune interests in 11 fields in Louisiana and Texas were purchased under Chapter 11 of the US Bankruptcy Code and were producing 626 barrels of oil per day.
White Marlin’s chief executive Terry Clark, said: “The acquisition of these core producing properties from Dune Energy is another step forward in our plan to increase investor value and net income from our Texas and Louisiana Gulf Coast strategic asset focus.”
He said White Marlin will be grown through acquisitions and drilling.