UK-listed Sterling Energy has agreed to sell off its US business, including exploration and production projects, primarily in the onshore Gulf Coast and shallow waters of the Gulf of Mexico. The assets contain estimated proved and probable reserves of 53 Bcf (1.5 Bcm) and 41 Bcf (1.15 Bcm) of gas equivalent respectively, of which 73% is gas and 27% is oil. Average production to date in 2009 is 20.5 MMcf/d (580.7 Mcm/d) of gas.
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