Noble Energy Buys Minority Stake In Falkland Oil Licenses

Law360, New York (August 7, 2012, 3:51 PM EDT) -- Texas oil and gas exploration company Noble Energy Inc. will acquire a minority interest in an offshore energy drilling venture off the Falkland Islands from the venture's UK leader for as much as $230 million over the next three years, Noble said in a statement Monday.

Noble will acquire a 35 percent working interest in a group of drilling licenses controlled by Falkland Oil and Gas Ltd., the majority owner of the joint venture. The Houston-based company will be phased in as the operator of the...
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