Noble Energy plans China oil field stake sale, could fetch $200M-$300M

|About: Noble Energy, Inc. (NBL)|By:, SA News Editor

Noble Energy (NBL) has hired Lazard to sell its majority stake in an oil field it owns with Sinopec (SNP) off the coast of northeastern China in a deal that could fetch $200M-$300M, WSJ reports.

NBL holds a 57% stake in the Chengdaoxi field, which currently produces ~4K bbl/day of crude oil; SNP holds the remainder.

NBL's stake is said to have attracted interest from a wide field that includes several medium-size energy companies.