Noble Energy Inc. (NBL) has agreed to sell its stake in certain
properties in the United Kingdom's North Sea to Maersk Oil North
Sea Ltd. for approximately $127 million, as the oil-and-gas
explorer continues to divest its noncore properties.
The sale includes Noble's 30% non-operating working interest in
its Dumbarton and Lochranza properties. The company said it also
considering the sale of its other North Sea assets.
"The sale of these nonstrategic properties allows us to focus
our resources on our five core business units and also strengthens
our balance sheet," said Chief Operating Officer David L.
Stover.
Last month, Noble Energy Inc. reported its first-quarter profit
surged as the company posted stronger sales volume and realized
prices for crude oil, as well as far fewer losses related to
derivatives.
Shares closed at $84.04 Wednesday and were unchanged after
hours. The stock is off 14% over the past three months.
-By Nathalie Tadena, Dow Jones Newswires; 212-416-3287; nathalie.tadena@dowjones.com
