King Resources has inked a deal with Capco Energy to operate and earn a 50% working interest in Vermilion Blocks 112 and 113 ... developed projects in the Gulf of Mexico, the North Sea, offshore ...

the eastern part of the Gulf of Mexico is believed to hold large untapped reservoirs of oil. Opening that area to exploration has long drawn opposition from Florida officials from both parties ...

Petrobras did not specify to whom it sold the blocks. Shell which is Europe’s biggest oil company at the beginning of last month said it was interested in acquiring assets in the Gulf of Mexico ...