Noble Energy Nabs Suncor Reserves For $494M

By Samuel Howard

Law360, New York (January 05, 2010, 3:08 PM ET) -- Continuing to expand its onshore operations, Noble Energy Inc. has reached a deal to buy virtually all of Suncor Energy Inc.’s oil and natural gas reserves in northeastern Colorado for $494 million.

Noble Energy said Tuesday that the acquisition, which is expected to close later this quarter, will add per day roughly 10,000 barrels of oil equivalent, or 46 million cubic feet of natural gas and 2,500 barrels of liquids, to the company’s daily output.

The deal includes 34,000 acres and allows Noble Energy to ramp...
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