Noble Energy said that production from the assets averaged 2,850 barrels of oil per day in the third quarter 2007. After tax net proceeds from the sale will be approximately $80 million.
Charles Davidson, chairman and CEO, said: Noble Energy continues to focus its attention and capital in areas that provide significant growth potential for the company, while divesting non-core assets. The sale of our Argentina assets is another step in that process.
The sale is expected to close in 2008 after receiving the necessary regulatory approval.
