Press release from PR Newswire
Noble Energy Announces Exit From Ecuador
Tuesday, May 31, 2011
Noble Energy Announces Exit From Ecuador16:15 EDT Tuesday, May 31, 2011HOUSTON, May 31, 2011 /PRNewswire/ -- Noble Energy, Inc. (NYSE: NBL) announced today that it has received compensation totaling $97 million for the transfer of its assets in Ecuador to various government-affiliated entities. Compensation was received for the offshore Amistad field assets and Block 3 production sharing contract which was terminated by the government of Ecuador on November 25, 2010. In addition, total proceeds included an amount for the assignment of the Machala Power Electricity concession and its associated assets. Noble Energy previously owned these assets with a 100 percent working interest. The Company's net book value for the assets totaled approximately $68 million.Noble Energy is a leading independent energy company engaged in worldwide oil and gas exploration and production. The Company has core operations onshore in the U.S., primarily in the DJ Basin, in the deepwater Gulf of Mexico, offshore Eastern Mediterranean, and offshore West Africa. Noble Energy is listed on the New York Stock Exchange and is traded under the ticker symbol NBL. Further information is available at www.nobleenergyinc.com.SOURCE Noble Energy, Inc.For further information: David Larson, +1-281-872-3125, firstname.lastname@example.org, or Brad Whitmarsh, +1-281-872-3187, email@example.com, both of Noble Energy, Inc.