One-Page Deal Sheet
EnerJex Sells Off Interest in Non-Producing Texas Acreage
Not Disclosed Enerjex Resources, Inc.
Announced Date
April 11,2014
Effective Date
March 31,2014
Close Date
April 09,2014
Transaction Type
Working Interest
Location
Calculated Metrics( EV/Category)
Region
Gulf Coast - South Texas
Country
United States
State
Texas
County
Lee
Play
Calculated Metrics( EV/Category)
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EnerJex Resources, Inc. has completed the sale of its interests in approximately 2,250 non-producing gross acres comprising the Company's Lonesome Dove Project in Lee County, Texas.
These interests consisted of a 50% working interest from the surface through a depth of approximately 4,800 feet, a 10% working interest in all other depths, and a 15% carried working interest in the first of any well to be drilled by its partner to a depth greater than approximately 4,800 feet.
Pursuant to the terms of this transaction, EnerJex received $450,000 in cash and will receive an average overriding…
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