One-Page Deal Sheet
Legacy Reserves Acquires Pantwist LLC and Gryphon Production Company
Legacy Reserves Lp Cano Petroleum, Inc., Gryphon Production Company
Announced Date
March 01,2008
Effective Date
July 01,2008
Close Date
October 01,2008
Transaction Type
Property
Enterprise Value (EV)($MM)
56
Location
Calculated Metrics( EV/Category)
Region
Permian
Country
United States
State
Texas
Play
Production & Reserves Production
Reserves
Calculated Metrics( EV/Category)
$/ Flowing
Transaction Details: Subscribe to see
Legacy Reserves LP announced it has entered into an agreement to purchase 100% of the membership interests of Pantwist, LLC from Cano Petroleum, Inc. for $42.7 million cash, subject to customary closing adjustments.
Legacy is to acquire an estimated 453 Boe of daily production (72% oil and natural gas liquids), 3.1 MMBoe of proved reserves, 100% of which is proved developed producing. The closing is expected to be on October 1, 2008.
Legacy also closed the acquisition on August 29, 2008, of assets from Gryphon Production Company, LLC for approximately $13.0 million. Legacy acquired an…
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