logo-loader
viewTeton Energy

Teton Energy sells Denver Julesburg Basin Assets to Nobel Energy

us_dollar350_49d4bef12c477.jpg
Teton Energy (Nasdaq: TEC) announced it had sold its 25% working interest in the Teton Energy – Noble Energy AMI in the Denver Julesburg Basin in Nebraska to Noble Energy (NYSE: NBL) in exchange for the forgiveness of all outstanding and future amounts owed to Noble Energy by Teton Energy related to the development of the AMI project. The disposal also includes Teton Energy’s 50% working interest in the undeveloped Frenchman Creek acreage in Colorado.

Teton Energy’s net production in the Teton-Noble AMI was 763 thousand cubic feet per day equivalent as of December 2008. In total, Teton Energy is disposing of approximately 82,728 acres.

"This transaction represents another step in our plan to shed non-operating assets as well as improve our liquidity position as we navigate through these challenging economic times," said Karl Arleth, President and Chief Executive Officer. "We are divesting a non-operated asset, where we had elected not to participate in new wells drilled in late 2008 due to disappointing well performance. We had no capital expenditures planned in these two areas in 2009 and expect minimal impact from this sale on Teton's business plans going forward."

Quick facts: Teton Energy

Price: - -

NASDAQ:TEC
Market: NASDAQ
Market Cap: -
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Helix Technologies following up strong 2019 with success in 2020

Helix Technologies (OTCQB: HLIX) President of Data Services Garvis Toler joined Steve Darling from Proactive Vancouver to discuss the company releasing their 2019 financial numbers which were very strong and also what milestones they hit to close the year.  Toler also told Proactive...

1 day, 5 hours ago

2 min read