Source: Noble Energy
Noble Energy, Inc. (NYSE:NBL) has closed the sale of certain Mid-Continent and Illinois basin assets to an affiliate of Citation Oil & Gas. Proceeds from the transaction were $552 million and included final closing adjustments from the effective date of April 1.
In June 2010, the company revealed that it was divesting certain mature properties that produce some 5,700 barrels of oil equivalent a day for approximately $550 million. These higher-cost Midcontinent and Illinois-basin assets represent approximately 29 MMBoe of reserves.
Noble Energy is a leading independent energy company engaged in worldwide oil and gas exploration and production. The Company operates primarily in the Rocky Mountains, Mid-Continent, and deepwater Gulf of Mexico areas in the United States, with significant international operations offshore Israel and West Africa.