Courtesy of Benzinga
Noble Energy, Inc. (NYSE: NBL) announced today that it has received compensation totaling $97 million for the transfer of its assets in Ecuador to various government-affiliated entities. Compensation was received for the offshore Amistad field assets and Block 3 production sharing contract which was terminated by the government of Ecuador on November 25, 2010. In addition, total proceeds included an amount for the assignment of the Machala Power Electricity concession and its associated assets. Noble Energy previously owned these assets with a 100 percent working interest. The Company’s net book value for the assets totaled approximately $68 million.
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