Exploration & Production | Deals - Acquisition, Mergers, Divestitures
Delphi Energy Sells Cardium Oil Assets; Update Montney Drilling Activities
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Delphi Energy Corp. ("Delphi" or the "Company") (TSX:DEE) is pleased to announce its financial and operational results for the quarter ended June 30, 2012.
signed a purchase and sale agreement to dispose of Delphi's Cardium oil assets at Bigstone representing 450 boe/d for gross proceeds of $23.0 million, subject to standard accounting adjustments. The transaction was closed and the proceeds were received subsequent to the end of the quarter on July 24, 2012; finished drilling a third Montney horizontal well at Bigstone East with completion operations conducted subsequent to the end of the quarter; reduced the Company's net debt to $117.9 million at June 30, 2012 reflecting the Cardium assets held for sale and received reconfirmation from Delphi's lenders of the Company's $145.0…- ✓ Full news archive — U.S., Canada & international coverage
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