GulfSlope Energy Inc and Texas South Energy Inc have agreed to farm-out a 75% working interest in oil and gas prospects in the offshore Gulf of Mexico, US, to an international oil and gas company. 

The unnamed buyer will pay 90% of the exploratory costs and cash payment of $1.5m to earn interest in each prospect. The drilling programme will include at least three exploratory wells and three more wells as an option.

Upon completion of the deal, the prospects will be owned by GulfSlope (20%, operator), Texas South Energy (5%), and the purchaser (75%).

Seadrill has received approximately $1.06bn of new capital through a restructuring agreement with certain investors.

"The new capital funding includes $860m of secured notes and $200m of equity."

The new capital funding includes $860m of secured notes and $200m of equity contributed by more than 97% of its bank lenders, approximately 40% of its bond-holders and a consortium of investors led by its biggest shareholder, Hemen.

Seadrill appointed Kirkland & Ellis as legal counsel, Houlihan Lokey as financial advisor and Alvarez & Marsal as restructuring advisor for the transaction.

Shell and Petrobras have signed a memorandum of understanding (MoU) to establish a long-term collaboration to develop pre-salt fields in Brazil.

Under the MoU, Petrobras will deliver technical solutions, contract management expertise and cost-efficiency initiatives, while Shell will employ its global deepwater expertise in Brazilian assets.

The MoU also includes exchange of knowledge on safety and governance management, technical and operational solutions, contract management, logistics, well construction and air transportation safety.