One-Page Deal Sheet
Hilton Petroleum Closes Sale of Enserch Properties to Exco Resources;
Exco Resources Inc. Not Disclosed
Announced Date
January 01,2001
Effective Date
January 01,2001
Close Date
March 08,2001
Transaction Type
Property
Enterprise Value (EV)($MM)
15
Location
Country
United States
State
Texas
Transaction Details: Subscribe to see
Hilton Petroleum Ltd., announced today that it has closed its purchase and sale agreement with Exco Resources Inc., a Texas-based oil and gas producer, for the sale of certain of its properties, known as the Enserch properties, located primarily in Texas and Oklahoma.
"The sale of the Enserch properties will help to minimize shareholder dilution until such time as production revenue begins to pay for the ongoing exploration and development at East Lost Hills," says Hilton Chairman Don Busby. "We can now focus on an aggressive drilling program over the next year"
Hilton Petroleum sold the…
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