One-Page Deal Sheet
BNK Finalizes Woodford Sale with XTO Energy
ExxonMobil, XTO Energy Inc. BNK Petroleum Inc.
Announced Date
April 22,2013
Close Date
April 22,2013
Transaction Type
Property
Enterprise Value (EV)($MM)
148
TargetZones:
{"Woodford Shale","C
Location
Region
Mid-Continent
Country
United States
State
Oklahoma
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Closing Announcement - April 22, 2013
BNK Petroleum Inc. has reported that the previously announced sale by its indirect wholly owned subsidiary BNK Petroleum (US) Inc. to XTO Energy Inc., a subsidiary of Exxon Mobil Corporation, of its Tishomingo Field, Oklahoma assets other than the Caney and upper Sycamore formations, for US$147.5 million has been closed.
The indebtedness under the Company's credit facility has been paid down to $100,000 with the proceeds from the sale, the Company's hedging positions have been closed and the balance of the $147.5 million sale price less an approximately…
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