Loews completes sale of HighMount E&P

Loews Corp.

Loews Corp. (NYSE: L) has completed the sale of its oil and gas exploration and production subsidiary, HighMount Exploration & Production LLC, to privately held affiliates of EnerVest Ltd. for $805 million.

As a result of the sale, Loews's third-quarter earnings report will include a modest reduction in the previously recognized impairment charge for HighMount.

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