Abraxas Petroleum Corporation AXAS is pleased to provide the
following divestiture, financial and operational update.
Divestiture Update
Abraxas today announced an agreement in principle, subject to the
signing of a definitive agreement and satisfactory resolution of several
final due diligence items, to sell the Company's 25% working interest at
the Nordheim Project in the Eagle Ford shale to a large institutional
buyer for approximately $20mm. The potential sale will also be subject
to customary closing conditions and purchase price adjustments and will
reflect an effective date of September 1, 2012. The divestiture consists
of 544 net acres in DeWitt County, Texas and approximately 64 boepd (56%
gas;
See full press release
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in