27 Mar 2014 More

Noble Energy Sells Off Stake in Oil Field

posted by Brown Books @ 12:49 0 Comments Links to this post

Noble Energy sells stake
Noble Energy announces that it is bringing in Lazard Ltd. to help sell off its majority stake in the Sinopec oilfield in China, this according to the Wall Street Journal.  The sale could bring in anywhere from 200 to 300 million dollars US.

Noble currently holds a 57 percent stake in the Chengdaoxi field and yields an estimated 4 mbopd.  The field began commercial operations back in 2003.  Roc Oil is one possible buyer for the Noble stake.

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