Noble Energy Completes the Sale of Kansas Properties

Source: www.gulfoilandgas.com 9/26/2012, Location: North America

Noble Energy, Inc. has closed the previously announced sale of certain oil and natural gas properties in central Kansas to an affiliate of Citation Oil & Gas Corp., a privately held Houston based oil and gas company. Proceeds from the transaction were approximately $130 million and included certain adjustments from the effective date of April 1, 2012.

David L. Stover, Noble Energy's President and COO, commented, "With the closing of our Kansas property sale, we have now completed four divestments resulting in over $1.1 billion of proceeds received this quarter. These funds will contribute to our strong balance sheet and robust liquidity position as we continue to build out major deepwater projects and accelerate onshore horizontal resource plays."


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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