Houston oil explorer Pogo Producing Co. said on Monday it is selling Northrock Resources Ltd. to Abu Dhabi National Energy Co. PJSC for $2 billion in cash. Late last year, hedge fund Third Point LLC criticized Pogo's acquisition of Northrock for $1.8 billion. Third Point also pressured the firm to ponder a sale or merger of Pogo itself; Pogo then hired Goldman, Sachs & Co. and TD Securities Inc. to help it explore strategic alternatives. Pogo will not comment further on a possible sale of the firm until a deal is signed. This sale of Northrock is expected to close during the third quarter.

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