One-Page Deal Sheet
Legacy Acquires North Dakota Focused Corinthian Exploration
Legacy Oil + Gas- Canada. Corinthian Oil Corp.
Announced Date
June 25,2014
Close Date
July 02,2014
Transaction Type
Corporate
Asset/Basin:
{"Williston Basin"}
TargetZones:
{Spearfish,Dunvegan}
Net Acres
Net Operated Locations:
Location
Region
Williston Basin,Canada
Country
Canada
Country
United States
State
North Dakota
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Closing Announcement - July 3, 2014
Legacy Oil + Gas Inc. has closed the acquisition of Corinthian Exploration Corp., previously announced on June 24, 2014.
Through the Acquisition, Legacy acquired high quality, high netback, light oil assets focused in its North Dakota Spearfish core area for total consideration of approximately 20.1 million Legacy common shares and assumed net debt of approximately $34 million (subject to certain adjustments). Corinthian's net debt on closing was below 0.7 times estimated annualized funds flow from operations, resulting in a deleveraging of Legacy's…
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