Noble Energy, Inc and Anadarko Petroleum Corp. are swapping 50,000-acre parcels in the Wattenberg oil and gas fields in northern Colorado, the companies said Monday.
The swaps will help consolidate acreage positions for each company. Houston-based Noble is the largest operator in the field and Anadarko, with headquarters in The Woodlands, Texas, is the second biggest operator.
Anadarko will gain about 8,000 barrels of oil equivalent a day in production from new wells on its acquired property and Noble will receive $202 million for the cost of drilling those wells
“This strategic transaction will create numerous synergies for both Noble Energy and Anadarko and allows us to maximize the value of this premier oil asset, as acreage is consolidated in key operating areas,” David L. Stover, Noble’s chief operating officer, said in a statement. Officer,
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