Fresh from closing on a pair of asset sales in the Appalachian Basin, Carrizo Oil & Gas Inc. said it will sell substantially all of its assets in the Denver-Julesburg (DJ) Basin to an undisclosed buyer for $140 million, the latest move in a divestiture program begun earlier this year.

On Monday, the Houston-based company said the agreement to sell the DJ assets had been signed one week earlier, and that it could receive contingent payments of up to $15 million in aggregate over the next three years, based on crude oil prices exceeding certain thresholds. Net production from the DJ assets totaled 2,427 boe/d in the third quarter, with 69% weighted toward oil and 84% liquids.

The sale, which is subject to customary closing terms and conditions, is expected to close in January with an effective date of Sept. 1, 2017.

“The sale of the DJ Basin assets is another step towards achieving our leverage reduction goals and positioning Carrizo to be able to deliver strong, high-return production growth within cash flow,” said CEO Chip Johnson. The company said that following the divestiture, it plans to focus on oil and natural gas targets in the Eagle Ford Shale in South Texas and the Permian Basin in West Texas.

Carrizo closed on two separate agreements to sell assets in the Marcellus and Utica shales earlier this month. The company completed the sale of its assets in the Marcellus in central and northeast Pennsylvania, to a subsidiary of Kalnin Ventures LLC for $84 million on Nov. 21. Six days earlier, Carrizo and an undisclosed buyer closed on a $62 million deal for all of its Utica Shale assets in Guernsey County, OH. Excluding a previously received deposit, Carrizo received a combined total of $128 million from the two closings.

Net production during the third quarter from the Marcellus Shale assets totaled 36,722 Mcf/d, while Utica assets produced 661 boe/d, with 28% oil and 50% liquids. Carrizo also is to receive contingent payments from the buyer based on the level of commodity prices over the next three years.