The company will earn a total remuneration of $617m for selling its interest in the properties.
Noble Energy will sell its interest in around 900 producing wells on the properties spread on a total area of about 84,000 net acres; the wells have a daily net production of 60 million cubic feet equivalent per day.
The net proved reserves on the acreage is approximately 250 billion cubic feet equivalent and the production consists of 65% natural gas, 27% natural gas liquids, and 8% oil.
Noble Energy president and COO David L Stover said the sale is a part of the company’s previously announced non-core divestiture plan which will allow us to allocate capital and people to high-value and high-growth areas.
"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," Stover added.
The transaction subject to customary closing conditions and adjustments is expected to close in September 2012.
Noble Energy, an American company is an independent energy company engaged in worldwide oil and gas exploration and production.
