Deals - Acquisition, Mergers, Divestitures
Shoreline to Buy Non-Op Wattenberg Assets for $12.5MM
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Shoreline Energy Corp. has executed agreements to acquire non-operating royalty interests in the prolific Wattenberg Colorado light oil project (the Wattenberg Project) located in the Denver-Julesberg Basin (DJ Basin) for approximately US$12.5 million from a private company based in the United States. The Acquisition is anticipated to close on November 20, 2012, and will represent Shoreline's initial entry into the U.S.
The Acquisition will give Shoreline a variety of royalty interests ranging up to 1.45% on over 150 land tracts representing over 22,000 gross acres of land, predominantly located in Weld County Colorado, in the Wattenberg Project. The Wattenberg Project is currently an area of a large scale, low risk horizontal development well program, using multi-stage frac technology…
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