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Lone Pine Sheds Wild River Assets for $80.6MM

Not Disclosed Lone Pine Resources Inc.
AnnouncedDec 17, 2012
TypeProperty
Announced Date
December 17,2012
Effective Date
October 01,2012
Close Date
December 17,2012
Transaction Type
Property
Enterprise Value (EV)($MM)
81




Snapshot
Asset/Basin:
{"Deep Basin"}
Net Acres
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Location
Region
Canada

Country
Canada


Transaction Details:  Subscribe to see

Lone Pine Resources Inc. has completed its previously announced Wild River asset disposition for total cash proceeds of $80.6 million.

The proceeds of the disposition have been used by the Company to reduce indebtedness outstanding under its bank credit facility. As a result of the disposition, the borrowing base available under the bank credit facility has been reduced by $50 million from $325 million to $275 million.

As of December 17, 2012, after giving effect to the use of the proceeds from the sale of the Wild River assets, the Company had approximately $155 million in borrowings…


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