Inpex Corporation said that, through its unit, Teikoku Oil, it has agreed to sell all its participating interest (25%) in Block SL20183 in the State of Louisiana, USA, to Sibley Petroleum Investments.
Block SL20183 is an onshore block producing natural gas at the rate of approximately 3.7 MMscfd. PetroQuest Energy (operator) and US Energy hold a 55% and 20% participating interest, respectively.
Inpex acquired its participating interest in Block SL20183 in 2006 and has since engaged in the production and development of natural gas there, the company said in a statement.
The selling of Inpex’s interest in the block is intended to help optimize the company’s global asset portfolio.