JAKARTA (AFX) - Oil and gas company PT Medco Energi Internasional said its wholly-owned unit Novus Oil and Gas LP has sold its 30 pct stake in the Stratton oil field onshore Texas to US oil and gas firm Apache Corp for 45.25 mln usd.
The sales and purchase agreement was signed on Dec 31 and Medco was paid the same day, Medco said in a statement.
It said Apache is the operator of the Stratton oil field, one of several of Novus' assets in the US that Medco had put up for sale.
It earlier said that other US assets on offer include the East Cameron/Main Pass Gulf of Mexico fields located offshore of Louisiana, the Sorrento Dome field onshore of Louisiana, and the Coastal Bend field located onshore and offshore of Texas.
Medco acquired the US assets after it bought Australian oil and gas company Novus Petroleum Ltd for around 350 mln aud last year.
(1 usd = 1.31 aud)
berni.km@xfn.com
bkm/swp
For more information and to contact AFX: www.afxnews.com and www.afxpress.com
The sales and purchase agreement was signed on Dec 31 and Medco was paid the same day, Medco said in a statement.
It said Apache is the operator of the Stratton oil field, one of several of Novus' assets in the US that Medco had put up for sale.
It earlier said that other US assets on offer include the East Cameron/Main Pass Gulf of Mexico fields located offshore of Louisiana, the Sorrento Dome field onshore of Louisiana, and the Coastal Bend field located onshore and offshore of Texas.
Medco acquired the US assets after it bought Australian oil and gas company Novus Petroleum Ltd for around 350 mln aud last year.
(1 usd = 1.31 aud)
berni.km@xfn.com
bkm/swp
For more information and to contact AFX: www.afxnews.com and www.afxpress.com
© 2005 AFX News
