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Magnum Hunter Resources Acquires NGAS Resources for $98 Million

Magnum Hunter Resources Corp. Ngas Resources Inc.
AnnouncedDec 27, 2010
TypeCorporate
Announced Date
December 27,2010
Close Date
April 13,2011
Transaction Type
Corporate
Enterprise Value (EV)($MM)
98




Snapshot
Asset/Basin:
{"Appalachian Basin"}
TargetZones:
{"Huron Shale","Weir
Net Acres
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Location
Region
Northeast

Country
United States

State
Texas

Production
Production
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Transaction Details:  Subscribe to see

Magnum Hunter Resources Corporation announced today that it has entered into a definitive agreement to acquire Appalachian Basin focused NGAS Resources, Inc. for approximately $98 million (USD) in common stock and assumed liabilities. Magnum Hunter has agreed to acquire NGAS for $0.55 per share with a fixed exchange ratio of 0.0846 based on an agreed Magnum Hunter stock price of $6.50 per share. (There are no collars on the fixed exchange ratio based on the trading price of either Magnum Hunter and/or NGAS).

Magnum Hunter will issue approximately 6.6 million shares, representing approximately…


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United States Deal Activity In Last 12 Months


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Jan-25-2017 - - Click here Kentucky  E&P

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