By OGJ editors
HOUSTON, Feb. 13 -- Noble Energy Inc. has agreed to buy United States Exploration Inc., a privately held company in Billings, Mont., for $411 million in a move that will expand its operations in Wattenberg oil and gas field in Colorado, Wyoming, and Nebraska.
Noble holds 218,000 acres in the field and will gain 65,000 net acres in the Denver-Julesberg basin in the transaction.
United States Exploration's estimated proved reserves are estimated at 248 bcf of gas equivalent, 41% proved developed and 55% gas. The company owns an interest in 512 active wells. Most of its acreage allows for increasing drilling density to 20-acre spacing.