The properties include the company’s interest in about 250 producing wells on about 14,000 net acres. As of 1 April 2012, net production was nearly 1,000 barrels of oil equivalent per day and net proved reserves were about 7 million barrels of oil equivalent.
Noble Energy president and COO David L Stover said the Kansas property divestiture is the firm’s third announced sale this quarter and completes the first phase of its onshore non-core divestment plan.
"These transactions, along with the sales of our Dumbarton and Lochranza assets in the North Sea, are expected to generate approximately $1.1 billion of after-tax proceeds by the end of the third quarter," Stover added.
"The next phase of our non-core divestment program, continuing into 2013, involves small asset packages in the Mid-continent, Gulf Coast, San Juan, and Ark-La-Tex areas and our remaining assets in the North Sea."
The transaction, which is subject to customary closing conditions and adjustments, is expected to close in September 2012.
Tudor, Pickering, Holt & Co. has advised Noble Energy on this transaction.
Noble Energy has core operations onshore in the US, primarily in the DJ Basin and Marcellus Shale, in the deepwater Gulf of Mexico, offshore Eastern Mediterranean, and offshore West Africa.
