Company News - Noble Energy to acquire Patina Oil & Gas

Noble Energy Inc. and Patina Oil & Gas Corp. have received their boards' approval for Noble to acquire Patina for $3.4 billion, including the assumption of Patina's debt.Patina produces oil and gas mainly in the Rocky Mountain and Midcontinent areas of the US. Most of Noble Energy's operations are on the Gulf Coast, in the deepwater Gulf of Mexico, and outside the US.In other recent upstream news:Anadarko Petroleum Corp. has reallocated $150-200 million from drilling and related activities to additional repurchases of its common stock. The company's revised 2005 capital spending plan is $2.7-3 billion.Esso SAF is soliciting bids for its 90% stake in Esso REP, its explorati...

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