Unit Corp. To Pay $617M For Noble Energy Midstream Assets

Law360, New York (July 11, 2012, 2:21 PM EDT) -- Oklahoma energy exploration company Unit Corp. has agreed to acquire the U.S. midcontinent assets of Texas oil and gas firm Noble Energy Inc. for $617.1 million, the companies announced Wednesday.

Houston-based Noble Energy will sell its oil and natural gas properties in western Oklahoma and the Texas Panhandle to Unit Petroleum Corp., a wholly owned subsidiary of Unit Corp. The assets include Noble Energy's interest in 900 producing oil and natural gas wells on roughly 84,000 net acres, the companies said.

The deal has an effective...
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