One-Page Deal Sheet
Crimson Closes on Smith Production South Texas Acreage
Crimson Exploration Inc. Smith Production Inc.
Announced Date
May 01,2008
Effective Date
January 01,2008
Close Date
June 02,2008
Transaction Type
Property
Enterprise Value (EV)($MM)
57
Proved Reserves
Transaction Details: Subscribe to see
Crimson Exploration Inc. today announced that it has closed on the previously announced acquisition of four producing gas fields and undeveloped acreage in South Texas from Smith Production Inc. for $65 million in cash with an effective date of January 1, 2008. Approximately $4.8 million of that purchase price relates to properties that currently lack certain required landowner consents to assign, and therefore, has temporarily excluded from the closing. Both Crimson and Smith anticipate that the remaining consents will be attained and will close in the near future. After adjustment for the…
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