El Paso E&P to Sell 2 Non-Strategic Natural Gas Producing Properties

El Paso Exploration & Production Company has entered into two purchase and sale agreements to sell two non-strategic natural gas producing properties for a total of approximately $77 million.

The company will sell properties located in the San Juan Basin in northwest New Mexico that were part of its 2007 acquisition of Peoples Energy, as well as properties in the Shongaloo and Spring Hill fields along the Louisiana/Arkansas border. In total, the properties to be sold contain a current estimated 40 billion cubic feet equivalent of proved reserves, with current production of approximately 15 million cubic feet of gas equivalent per day. The sales have an effective date of December 1, 2008, and are expected to close by the end of January 2009.



Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Load Planner/ Dispatcher Frac Sand
Expertise: Dispatcher|Project Management
Location: Mansfield, TX
Project Engineer
Expertise: Electrical Engineering|Instrument & Controls Engineer|Project Management
Location: Deer Park, TX
Land GIS Spatial Analyst - Mineral Land
Expertise: Contracts Engineer|Geologist|Lease Analyst
Location: Denver, CO
search for more jobs

Brent Crude Oil : $48.06/BBL 2.51%
Light Crude Oil : $45.77/BBL 2.17%
Natural Gas : $2.97/MMBtu 2.30%
Updated in last 24 hours