Teton Energy sells Denver Julesburg Basin Assets to Nobel Energy
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."
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