Oil and natural gas producer Harvest Natural Resources Inc said it was in exclusive talks to sell itself to Pluspetrol Venezuela SA in a deal valued at about $373 million, including debt.Pluspetrol will retain Harvest's 32 percent interest in Petrodelta S.A., a joint venture between Harvest and Venezuela's state-owned Petroleos de Venezuela SA, after the deal closes.Harvest's non-Venezuelan assets will be spun off to the company's shareholders and will be managed by Harvest's current management team.
Harvest Natural Resources, Inc. is a petroleum exploration and production company engaged in the exploration, development and production of properties in geological basins with proven active hydrocarbon systems. Shares of HNR remained unchanged at $4.15. In the past year, the shares have traded as low as $2.45 and as high as $10.83. On average, 542586 shares of HNR exchange hands on a given day and today's volume is recorded at 400.
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