Norse Energy Considering Sale of Some US Producing Assets

Norse Energy is considering a sale of its gas producing properties in the Medina Field located near Jamestown, New York. The package consists of about 330 existing wells, representing about 80% of the current US gas production. A data room will be opened late September to accommodate prospective buyers, and a decision is anticipated by the end of the year.

The potential sale reflects a strategic shift to focus the resources of Norse Energy on higher-impact gas plays in the Appalachian Basin, and the company expect that production shortfall as a result of the potential asset sale will be compensated fairly quickly by future drilling of horizontal and deep wells.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Project Manager - Manufacturing
Expertise: Manufacturing Engineering|Project Management
Location: Chesapeake, VA
Project Manager
Expertise: Project Management
Location: Clear Lake City, TX
Expertise: Landman
Location: Gillette, WY
search for more jobs

Brent Crude Oil : $51.82/BBL 0.53%
Light Crude Oil : $49.62/BBL 0.12%
Natural Gas : $3.14/MMBtu 3.28%
Updated in last 24 hours