One-Page Deal Sheet
Loews Acquires E&P Assets From Dominion Resources
Not Disclosed Dominion Resources, Inc.
Announced Date
July 01,2008
Close Date
July 31,2007
Transaction Type
Property
Enterprise Value (EV)($MM)
4000
Asset/Basin:
{"Permian Basin","Black Warrior Basin"}
TargetZones:
{"Antrim Shale"}
Proved Reserves
Location
Region
Permian
Country
United States
State
Alabama
Play
Production & Reserves Reserves
Transaction Details: Subscribe to see
Loews reported that its newly formed wholly-owned subsidiary, HighMount Exploration & Production LLC, has completed its previously announced acquisition of natural gas exploration and production assets from Dominion Resources for $4.0 billion cash. The transaction was financed with approximately $2.4 billion of cash provided by Loews Corporation and a $1.6 billion term loan by the newly created subsidiary. The primary properties acquired are located in the Permian Basin in Texas, the Antrim Shale in Michigan, and the Black Warrior Basin in Alabama, with estimated proved reserves totaling…
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