One-Page Deal Sheet
Earthstone to Enter the Permian; Inks Deal to Acquire Lynden Energy
Earthstone Energy Inc. Lynden Energy Corp.
Announced Date
December 17,2015
Close Date
May 18,2016
Transaction Type
Corporate
Asset/Basin:
{"Permian (Midland)","Permian (Eastern Shelf)"}
TargetZones:
{Wolfberry,"Wolfcamp
Net Acres
% Oil:
Proved Reserves
Location
Calculated Metrics( EV/Category)
Region
Permian
Country
United States
State
Texas
County
Glasscock ,Martin ,Midland ,Howard
Play
Production & Reserves Production
Reserves
Calculated Metrics( EV/Category)
Transaction Details: Require Private Equity Subscription
Earthstone Energy, Inc. annouced it intends to aquire Lynden in an all-stock transaction.
At closing, Earthstone will issue approximately 3.7 million shares of its common stock to Lynden stockholders, which will represent approximately 21% of Earthstone's outstanding common stock following the closing.
Earthstone's existing senior management team will lead the combined company.
As previously disclosed, Lynden's primary assets include:
14,765 gross / 5,883 net acres located in the core Midland Basin counties of Glasscock, Midland, Martin, and Howard, Texas. Working interests in 107 gross /…Permian Deal Activity In Last 12 Months
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