Noble Sells Argentina Stakes

The deal is worth $117.5 million.
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Noble Energy

(NBL) - Get Report

agreed to sell its stakes in the El Tordillo, La Tapera and Puesto Quiroga concessions in southern Argentina to a subsidiary of

Petrobras

for $117.5 million.

The sale should close next year, Noble said.

The assets being sold provided Noble with an average of 2,850 barrels of oil a day in the third quarter. After-tax net proceeds from the sale will be approximately $80 million.

Shares of Noble were up 1.2% at $80.72 Thursday.

This article was written by a staff member of TheStreet.com.