One-Page Deal Sheet
Abraxas Sells Powder River Brooks Draw Asset for $11.3 Million
Not Disclosed Abraxas Petroleum Corp.
Announced Date
November 08,2016
Effective Date
October 01,2016
Close Date
January 03,2017
Transaction Type
Property
Enterprise Value (EV)($MM)
11
Location
Calculated Metrics( EV/Category)
Region
Rockies - Powder River Basin
Country
United States
State
Wyoming
Play
Production Production
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
Transaction Details: Subscribe to see
Abraxas Petroleum recently signed a definitive agreement to divest the Company’s Brooks Draw assets in the Powder River Basin assets for approximately $11.3 million.
The assets sold consist of approximately 14,229 net acres and produced approximately 28 barrels of oil per day on average for the quarter ended September 30, 2016. The effective date of this transaction is October 1, 2016.
Closing is scheduled for December 15, 2016. Upon closing, proceeds will be used to further reduce borrowings on the Company’s credit facility.
Abraxas continues to market the Company’s remaining assets in the…
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