Scotia Waterous has been retained as the exclusive financial advisor by El Paso Corporation to divest its interests in the House Creek Field area of the Powder River Basin, Wyoming. The assets include oil-weighted production of approximately 1,600 boe/day from the Sussex and Parkman and significant undeveloped Niobrara acreage. The value of the assets put up for sale may be around $130-$160 million based on $80,000-$100,000/boe.
Bids due by late July, 2011.
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