Market Overview

LSB Industries Announces Acquisition of Natural Gas Working Interest for $49M

LSB Industries (NYSE: LXU), today
announced that as a part of the Chemical Business hedging strategy to
protect against rising natural gas prices, a subsidiary within our
Chemical Business closed an acquisition of a working interest in certain
natural gas properties at a cost of $49 million.

The acquisition included an approximate 7.7% average working interest
within the Marcellus Shale, located in Wyoming County, Pennsylvania. The
purchase includes interests in 14 proved producing natural gas wells, 7
proved non-producing natural gas wells, and 36 proved undeveloped future
drilling locations identified on the leasehold. We expect to spend $38
to $40 million from the expected cash flows from the producing wells for

See full press release

Posted-In: News Guidance Contracts Management M&A Global

 

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