Exploration & Production | Deals - Acquisition, Mergers, Divestitures
Chaparral to Put Permian Assets on the Market
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Chaparral Energy Inc. has engaged an investment banker to divest non-core assets in its Ark-La-Tex and Permian Basin areas.
Mark Fischer, Chairman, President & CEO, stated that: "The successful completion of the divestiture of these non-core assets, which represents approximately 10% of the Company's annual adjusted EBITDA, will allow the Company to reduce borrowings under its existing line of credit, fund an increased drilling program associated with the Cabot acquisition and advance our chosen strategy of becoming a pure Mid-Continent player".
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