A privately held U.S. exploration and production company based in Houston signed an agreement to acquire U.S. oil and gas interests in the Hummer, Mystic Bayou and Jeanerette Fields of Petsec Energy Ltd (ASX:PSA) for $0.6 million on August 6, 2020. As part of consideration, $0.5 million base cash payment plus a further $0.1 million trailing payment due in October 2021. Transaction is expected to close on or before August 31, 2020.