HOUSTON – Noble Energy Inc. (NYSE: NBL) has closed the previously announced 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.
According to the company's second quarter 2010 financial statements, the sale represents 5,700 boe/d of production and 29 million barrels of oil equivalent reserves.
Houston-based Citation Oil & Gas ranked No. 12 in the most recent OGFJ100P, a Top 100 list of privately held companies ranked by production.
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.