One-Page Deal Sheet
Linc Energy Acquires 14 Louisiana and Texas Oil Fields
Not Disclosed Erg Resources
Announced Date
June 06,2011
Close Date
October 11,2011
Transaction Type
Property
Enterprise Value (EV)($MM)
236
Asset/Basin:
{"Gulf Coast"}
Location
Country
United States
State
Texas
Transaction Details: Subscribe to see
Linc Energy Limited is pleased to announce that its wholly-owned subsidiary, Linc Gulf Coast Petroleum Inc., has acquired 14 producing oil fields (consisting of 156 leases covering approximately 13,400 acres) from ERG Resources LLC., for a price of US$236 million. The acquisition secures immediate oil production of approximately 3,300 barrels per day (BOPD), and a significant CO2 enhanced oil recovery (EOR) opportunity.
The 14 oil fields purchased from ERG Resources are located in Texas and Louisiana and are within the Gulf Coast Onshore and Inland Waters Regions and include all related…
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