One-Page Deal Sheet
Lone Pine Divests of Gas Assets in Alberta
Not Disclosed Lone Pine Resources Inc.
Announced Date
February 19,2013
Effective Date
January 01,2013
Close Date
February 19,2013
Transaction Type
Property
Enterprise Value (EV)($MM)
14
Proved Reserves
Transaction Details: Subscribe to see
Lone Pine Resources Inc. announces that its wholly owned subsidiary, Lone Pine Resources Canada Ltd., has entered into a definitive agreement with a private oil and gas company to divest of certain non-core assets in the Herronton area of Alberta for total gross cash proceeds of $14.0 million, subject to normal course closing adjustments.
Details of the assets to be sold are as follows:
Estimated average net sales volumes of 1.7 MMcfe/d (74% natural gas) in the fourth quarter of 2012
Total net estimated proved reserves of 6.7 Bcfe at December 31, 2011, determined in accordance with U.S…
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