One-Page Deal Sheet
Abraxas Petroleum Corporation Announces Purchase of Rocky Mountain Independent
Abraxas Petroleum Corp. Vessels Energy, Inc.
Announced Date
November 12,1997
Transaction Type
Corporate
Net Acres
Location
Country
United States
State
Wyoming
Transaction Details: Subscribe to see
Abraxas Petroleum Corporation announced today that it had executed an agreement to purchase Vessels Energy, Inc., a privately held Denver-based company, for Abraxas common stock, through a merger between Vessels and a wholly-owned subsidiary of Abraxas.
Terms of the transaction were not disclosed and the merger is dependent on board and shareholder approval of both companies with closing expected in early 1998. Final valuation is awaiting the completion of third party engineering reports.
Vessels owns producing properties in northwestern Colorado and southwestern Wyoming in close proximity to…
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