MEXICO CITY (Reuters) - Mexican conglomerate Alfa has announced that its Newpek unit has divested all of its Texas assets, including shale wells and leases in the Eagle Ford and Edwards formations, the company said in a statement on Tuesday.
The divestiture has an “implicit value” of $88 million for Newpek stemming from the cancellation of obligations, as well as an “extraordinary profit” for Alfa of $58 million, according to the statement.
Alfa added that the move is in line with its strategy of disinvesting all of its oil and gas assets outside Mexico, and that it has closed its Irving, Texas offices, and will relocate their functions to its corporate headquarters to Monterrey in northern Mexico.
Reporting by David Alire Garcia and Miguel Angel Gutierrez; Editing by Stefanie Eschenbacher and Alistair Bell
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