Citation Oil & Gas Corp., private Houston operator, will buy oil and gas properties in Kansas from Noble Energy Inc. for $140 million.
Closing is set for September 2012, effective Apr. 1, 2012. The properties include Noble Energy’s interest in about 250 producing wells on 14,000 net acres. As of the effective date, net production was 1,000 b/d of oil equivalent and net proved reserves were 7 million boe, nearly all crude oil.
Noble Energy said the next phase of its noncore divestment program, continuing into 2013, involves
small asset packages in the Midcontinent, Gulf Coast, San Juan, and Ark-La-Tex areas and the company’s remaining assets in the North Sea.