Noble Energy, Inc. announced Tuesday that it has signed a definitive agreement to sell certain oil and natural gas properties in the Permian Basin to Sheridan Holding Company II, LLC, a privately held Houston based oil and gas company, for $320 million.
The properties include Noble Energy's interest in about 250 producing wells on approximately 11,000 net acres. As of the effective date, net daily production was over 1,500 barrels of oil equivalent per day consisting of more than 90 percent crude oil and natural gas liquids.
$320 million 1,500 boepd $213,000 per 1 boepd
AREX EV/flow metric for 2012 (2012 avg production 8,300 boepd / EV $984 million) valued today at $118,000 per 1 boepd.