One-Page Deal Sheet
EnerJex Sheds Non-Core Kansas Assets
Not Disclosed Enerjex Resources, Inc.
Announced Date
May 22,2013
Close Date
May 22,2013
Transaction Type
Property
Asset/Basin:
{Mid-Continent}
Location
Region
Mid-Continent
Country
United States
State
Kansas
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EnerJex Resources, Inc. has sold two non-core oil leases in Eastern Kansas to a third-party for total net proceeds of approximately $450,000.
These properties are located outside of EnerJex's core operating areas, and this divestiture is expected to lower the Company's unit operating expenses. No value was attributed to these assets in EnerJex's borrowing availability under its credit facility with Texas Capital Bank.
EnerJex's CEO, Robert Watson, Jr., commented, "I am pleased to announce this non-core asset sale, which will further streamline the Company's operations and allow management to…
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