UK's Gulfsands Petroleum sheds non-core US assets

摘要

Dubai-The UK's Gulfsands Petroleum has sold three non-core producing properties in the shallow-water shelf area of the Gulf of Mexico to an unidentified buyer as part of its plan to rationalize its US oil and gas portfolio. The transaction, which has an effective date of May 1, 2010, and a sale price of $4.2 million prior to closing adjustments, is expect- ed to be completed in late January 2011.