One-Page Deal Sheet
Dune Energy Closes Sale of Barnett Shale Assets
Pioneer Natural Resources Co. Dune Energy Inc.
Announced Date
September 01,2008
Effective Date
May 01,2008
Close Date
August 29,2008
Transaction Type
Property
Enterprise Value (EV)($MM)
38
Asset/Basin:
{"Barnett Shale"}
TargetZones:
{"Barnett Shale"}
Transaction Details: Subscribe to see
Dune Energy, Inc. announced it has closed $38.1 million of its previously announced sale of its Barnett Shale assets, located in Denton and Wise Counties, TX. The difference between the $38.1 million and the $41.5 million original sale price reflects post-closing adjustments. These funds will be used to eliminate the $28.1 million outstanding on Dune's $40 million revolver, and for general corporate purposes.
James A. Watt, President and Chief Executive Officer stated, "This disposition allows Dune to focus its activity on high rate of return projects in the Gulf Coast and develop significant…
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