Ecuador: Noble Energy sells Amistad, related assets

By OGJ editors
HOUSTON, June 1
-- Noble Energy Inc., Houston, exited from Ecuador having received $97 million in compensation to transfer its assets to various government-affiliated entities.

Compensation was received for Amistad field and the Block 3 production sharing contract in the Gulf of Guayaquil that was terminated by the government on Nov. 25, 2010. In addition, total proceeds included an amount for the assignment of the Machala Power Electricity concession and its associated assets. Noble Energy previously owned these assets with a 100% working interest.

The company’s net book value for the assets totaled approximately $68 million.



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...