Noble Energy Acquires DJ Basin Assets

Published: 02-Mar-2010

Noble Energy has closed the purchase of substantially all of the US Rockies upstream assets of Petro-Canada Resources (USA) and Suncor Energy (Natural Gas) America.

Total resources acquired were nearly 100 million barrels of oil equivalent, half of which are estimated to be proved reserves. The acquisition adds approximately 10 thousand barrels of oil equivalent per day to Noble Energy's daily production and includes 340 thousand total net acres, nearly 200 thousand of which are located in the Greater DJ basin.

Approximately two million cubic feet equivalent per day of production and 13 billion cubic feet equivalent of reserves were included in the preferential rights exercised and not part of the final acquisition.

David Stover, president and chief operating officer of Noble Energy, said: "We are pleased to have closed this transaction, which increases our footprint at Wattenberg and further expands our opportunity set in the DJ basin."

Noble Energy is engaged in oil and gas exploration and production. The company operates primarily in the Rocky Mountains, Mid-Continent and deepwater Gulf of Mexico areas in the US.

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