One-Page Deal Sheet
Arete Acquires 10 Million in properties
Arete Industries, Inc. Dnr Oil & Gas Co
Announced Date
May 31,2011
Effective Date
April 01,2011
Close Date
September 29,2011
Transaction Type
Property
Enterprise Value (EV)($MM)
10
Location
Country
United States
State
Colorado
Transaction Details: Subscribe to see
Arête Industries,Inc. announced that it has closed a $10 million acquisition topurchase certain oil and gas operating properties in Colorado, Kansas, Wyoming,and Montana. The agreement includes an operating agreement for the continued operations of the properties by the current operator, a company owned by CharlesB. Davis, a director of the Company. The properties were purchased from acompany owned by Charles B. Davis and its affiliates. The acquisition waseffected through payment of $500,000 and a $9.5 million seller-financedpromissory note due July 1, 2011. The note is secured by all of the…
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