W&T Offshore Inc.on Jan.10 agreed to a $47 million cash acquisition of producing properties in the Gulf of Mexico Shelf as the region's A&D environment improves,according to CEO Tracy W.Krohn."Acquisitions are a core component of how we create value at W&T,and this transaction is another great example of an acquisition that adds value for our stockholders,"said Krohn,who also serves as chairman of the W&T Offshore board,in the company release.
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