Noble Energy Purchases DJ Basin Upstream Assets

Noble Energy has closed the previously announced purchase of substantially all of the U.S. Rockies upstream assets of Petro-Canada Resources (USA) Inc. and Suncor Energy (Natural Gas) America Inc. The amount paid at closing reflected minor preferential right elections and customary adjustments for net cash between the effective date and closing.

David L. Stover, Noble Energy's President and Chief Operating Officer, 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."

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.

 

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