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E&P Company Sells 16,000 Net Acres In Midland/Permian For $248 Million
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The Directors of Antares Energy Limited advise of the execution of two independent Purchase and Sale Agreements with the same Private Equity purchaser for the sale of Northern Star in the amount of 148,788,560 USD and Big Star in the amount 105,069,420 USD.
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The closing of these two independent Purchase and Sale Agreements with the same Private Equity purchaser will be on or before the 30th November 2015 and is subject to usual commercial closing conditions and adjustments.
The gross pretax proceeds from these transactions are expected to be approximately 250,000,000 USD which will be subject to customary closing adjustments, taxation and frictional costs. James Cruickshank, Antares’ CEO said, “We are pleased to have executed two independent Purchase and Sale Agreements with…
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