Noble Energy Inc. (NBL) announced that it has signed a definitive agreement to sell certain oil and natural gas properties in Kansas to an affiliate of Citation Oil & Gas Corp., a privately held Houston based oil and gas company, for about $140 million.
The transaction has an effective date of April 1, 2012 and is expected to close in September 2012, subject to customary closing conditions and adjustments.
The properties include Noble Energy's interest in about 250 producing wells on approximately 14,000 net acres. As of the effective date, net production was approximately 1,000 barrels of oil equivalent per day and net proved reserves were approximately 7 million barrels of oil equivalent. Production is almost entirely crude oil.
For comments and feedback: editorial@rttnews.com