2010-01-07-2010-01-04-2010-02-01

Purchased op/nonop assets in SW KS, SE CO including Hugoton Field, gaining 30.6 MMcf/d.

Occidental Petroleum Corp., Los Angeles, (NYSE: OXY) has acquired assets in southwestern Kansas in southeastern Colorado from Ellora Energy Inc., Denver, for $247 million. The acquisition involves all of Ellora's operated and nonoperated holdings in the region, including its Hugoton Field assets. In third-quarter 2009, production was 30.6 million cubic feet per day (52% gas). T. Scott Martin, Ellora chairman and chief executive, says, "The proceeds from the sale will allow us to significantly reduce our debt and more aggressively pursue our efforts to maximize the value of our lease position in the dynamic Haynesville shale gas play in East Texas. We believe now is the appropriate time in Ellora's life cycle to put our focus more squarely on the Haynesville play as we continue to explore our strategic options." The deal is expected to close in first-quarter 2010. The effective date is Jan. 1. Ellora has oil and gas assets in East Texas and Louisiana in the James lime and Haynesville shale plays.