The divested assets in south east Texas had net proven plus probable reserves of 2.5bcf at the end of 2010 and average production of 1.2mmcfpd in the first half of 2011.
Melrose Resources chief executive David Thomas said the sale of these gas leases in Texas effectively concludes the divestment of the company’s US asset portfolio.
"We can now fully focus the company’s resources on our established core areas in Egypt and the Black Sea and on business development opportunities in areas where we have competitive advantages," Thomas said.
