Noble Energy Inc.

Transaction Type
Sellers
Marketers
Basin
Permian
Post Date
Close Date
Estimated Price
MM
Description

Noble Energy Inc. has retained Tudor, Pickering, Holt, & Co. to sell certain oil-focused producing and undeveloped assets in the Permian Basin.

The package features producing assets primarily in Gaines County, Texas and includes Noble-operated wells on primary and secondary recovery targeting the Clearfork, San Andres and Yates formations. Additional wells and properties are in Chaves, Eddy and Lea counties in New Mexico and Martin and Pecos counties in Texas and target the Spraberry trend as well as other Devonian and Pennsylvanian aged formations.

Production is approximately 1,650 barrels of oil equivalent per day (85% oil) and is more than 85% operated. Proved developed reserves are approximately 11 million barrels equivalent and total resources are 15 million barrels equivalent.

Undeveloped upside opportunities exist through waterflood optimization and conventional vertical drilling.

The bid due date is June 6. Contact Scott Simmons, 713-333-7111, ssimmons@tudorpickering.com.