Noble Energy to sell properties to Unit Petroleum Company
Noble Energy announced it has signed an agreement of sale with Unit Petroleum Company, who now has access to oil and natural gas properties in the western region of Oklahoma and the Texas Panhandle.
UPC bought the reserves for approximately $617 million, and plans to finish operations by September. The agreement includes approximately 84,000 net acres that hold 900 producing wells. The reserves are made up of 65 percent natural gas, 27 percent natural gas liquids and 8 percent oil.
“This sale will allow us to allocate capital and people to high-value and high-growth areas,” said President and COO of Noble Energy David L. Stover. “Furthermore, it will provide additional flexibility in the implementation of our international program and the acceleration of the horizontal oil play in the DJ Basin.”
For more information, visit www.nobleenergyinc.com or call 281-872-3100.
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