* To sell mature, non-core assets in Denver-Julesburg basin
* Deal valued at about $154 mln
* To use proceeds to pay down debt
March 3 (Reuters) - Independent oil and gas producer Berry Petroleum Co said it agreed to sell essentially all its property in Northeastern Colorado for about $154 million.
The company said the deal includes natural gas reserves, mid-stream assets and an associated gas hedge for six months worth $14 million.
Production from the property is about 18 million cubic feet of gas equivalent per day (MMcfe/d), the company said.
Berry Petroleum expects to close the sale on or about April 1.
Shares of the company closed at $5.77 Tuesday on the New York Stock Exchange.
(Reporting by Adveith Nair in Bangalore; Editing by Anne Pallivathuckal) Keywords: BERRYPETROLEUM/ (adveith.nair@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 4135 5800; Reuters Messaging: adveith.nair.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Deal valued at about $154 mln
* To use proceeds to pay down debt
March 3 (Reuters) - Independent oil and gas producer Berry Petroleum Co said it agreed to sell essentially all its property in Northeastern Colorado for about $154 million.
The company said the deal includes natural gas reserves, mid-stream assets and an associated gas hedge for six months worth $14 million.
Production from the property is about 18 million cubic feet of gas equivalent per day (MMcfe/d), the company said.
Berry Petroleum expects to close the sale on or about April 1.
Shares of the company closed at $5.77 Tuesday on the New York Stock Exchange.
(Reporting by Adveith Nair in Bangalore; Editing by Anne Pallivathuckal) Keywords: BERRYPETROLEUM/ (adveith.nair@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 4135 5800; Reuters Messaging: adveith.nair.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.