Printer Friendly

NOBLE AFFILIATES PURCHASES 23 CALIFORNIA GAS WELLS FROM DEKALB ENERGY

    ARDMORE, Okla., Aug. 5 /PRNewswire/ -- Noble Affiliates, Inc. (NYSE: NBL) today announced that its wholly owned subsidiary, Samedan Oil Corporation, has purchased 23 gas wells from DeKalb Energy for $5.1 million, effective July 1, 1993.
    The wells are located in the Sacramento and San Joaquin Basins, onshore California.  They are presently producing approximately 4 million cubic feet of gas per day net to the interest acquired by the company.  Estimated net proved reserves are 6.4 billion cubic feet. Samedan will assume operations of 20 of the wells.
    Also included in the purchase are approximately 12,471 acres of undeveloped leases in the same vicinity as the producing properties, as well as approximately 800 miles of seismic data.
    "The gas properties acquired from DeKalb Energy mesh with our existing exploration and production of shallow gas in California," said Robert Kelley, Noble's chairman, president and CEO.  "We intend to increase our activity in that area."
    Noble Affiliates, Inc. is an independent energy company with exploration and production operations throughout major basins in the United States, including the Gulf of Mexico, as well as international operations primarily in Canada, Tunisia, Indonesia and Equatorial Guinea.  Its common stock is listed on the NYSE under the symbol "NBL."
    -0-             08/05/93
    CONTACT:  William D. Dickson of Noble Affiliates, 405-223-4110
    (NBL) CO:  NOBLE AFFILIATES, INC. IN:  OIL SU:  TNM ST:  OK


-- NY059 -- X225 08/05/93
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 5, 1993
Words:233
Previous Article:NATIONAL STARCH AND CHEMICAL EXPANDS IN SOUTH AMERICA
Next Article:CN NORTH AMERICA: INSULATED CONTAINERS TEMPERATURE-CONTROL IN HOT DEMAND
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters