Deals - Acquisition, Mergers, Divestitures
Lone Pine Divests Non-Core Kaybob Assets
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Lone Pine Resources Inc. has reported the closing of a previously announced Kaybob non-core asset disposition, the completion of the semi-annual redetermination of the Company''s borrowing base available under its five-year syndicated credit facility and the earnings release date for the Company''s third quarter 2012 results.
Completion of Kaybob Asset SaleLone Pine has closed the second of two previously announced dispositions of certain non-core assets in the Kaybob area of the Deep Basin for combined total gross cash proceeds of $19.0 million. The proceeds of the dispositions have been used to reduce indebtedness outstanding under the Company''s credit facility.
Lone Pine continues its previously announced asset portfolio review and other non-core disposition processes. The Company…
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