One-Page Deal Sheet
Cardinal Inks LOI to Acquire TX Gas Assets
Cardinal Energy Group Inc. Mohican Operating Llc
Announced Date
July 22,2013
Transaction Type
Property
Location
Country
United States
State
Texas
Transaction Details: Require Private Equity Subscription
Cardinal Energy Group Inc. has signed a formal Letter of Intent (LOI) to acquire 24 wet natural gas wells and 11,000 lease acres held by production located south of Corpus Christi, Texas in Webb County.
The LOI sets the terms to purchase all property rights, title, and interest. The acquisition covers all lands, wells, materials, equipment, personal properties, fixtures, and facilities (pipelines and production facilities), all related agreements, leases, permits, rights-of-way, easements, licenses, options, and orders.
The trailing 12 month gross revenue is in excess of $15,000,000 with Net…
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