One-Page Deal Sheet
Anderson Energy Sells Oil and Gas Property
Not Disclosed Anderson Energy Ltd
Announced Date
September 16,2013
Effective Date
August 01,2013
Close Date
October 24,2013
Transaction Type
Property
Enterprise Value (EV)($MM)
82
Asset/Basin:
{"Western Canada Sedimentary Basin"}
TargetZones:
{Cardium}
Location
Calculated Metrics( EV/Category)
Region
Canada
Country
Canada
Production Production
Calculated Metrics( EV/Category)
$/ Flowing
Transaction Details: Subscribe to see
Anderson Energy Ltd. has entered into an agreement to sell its Garrington and Ferrier Cardium oil and natural gas properties for $82 million effective August 1, 2013, subject to normal closing adjustments (the "Transaction").
In August, these properties produced approximately 1,000 BOED (65% oil & NGL). Closing of the Transaction is scheduled to occur by the end of October 2013.
Proceeds from the Transaction will initially be used to repay bank debt. On a pro forma basis at September 13, 2013, before closing adjustments, this would leave the Company with approximately $24 million in cash…
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