One-Page Deal Sheet
Harvest Natural Resources Sells Uinta Assets to Newfield Exploration
Newfield Exploration Co. Harvest Natural Resources Inc.
Announced Date
March 22,2011
Effective Date
March 01,2011
Close Date
May 17,2011
Transaction Type
Property
Enterprise Value (EV)($MM)
215
Location
Calculated Metrics( EV/Category)
Region
Rockies - Piceance/Uinta
Country
United States
State
Utah
Play
Calculated Metrics( EV/Category)
$/ Acre
Transaction Details: Subscribe to see
Harvest Natural Resources, Inc. today announced it has entered into a definitive agreement with an affiliate of Newfield Exploration Company to sell all of the Company's oil and gas assets in Utah's Uinta Basin for $215 million in cash. The sale has an effective date of March 1, 2011.
Harvest President and Chief Executive Officer, James Edmiston, said, "This transaction provides Harvest with an opportunity to quickly capture the value created by two years of highly successful land acquisition, exploration, appraisal and development work. We are proud of the fact that we were able to pioneer a…
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