Exploration & Production | General News | Deals - Acquisition, Mergers, Divestitures
Loews Corp. Mulling Potential Sale of HighMount E&P
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Loews Corporation has reported that its oil and gas exploration and production subsidiary, HighMount Exploration & Production, LLC, is pursuing strategic alternatives, including a potential sale of the business.
At March 31, 2014, HighMount's total assets, primarily comprised of natural gas and oil reserves, had a carrying value of approximately $1.1 billion (excluding deferred tax assets). HighMount had long-term debt and other liabilities totaling approximately $592 million at March 31, 2014. Loews may incur a loss as a result of this process.
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