One-Page Deal Sheet
Mexco Acquires Non-Op W.I. in 70 Oklahoma Gas Wells
Mexco Energy Corp Not Disclosed
Announced Date
December 16,2014
Close Date
December 16,2014
Transaction Type
Farm-In/Farm Out
Location
Region
North America,Mid-Continent
Country
United States
State
Oklahoma
Transaction Details: Subscribe to see
Mexco Energy Corporation announced the purchase of various non-operated working interests at a price of $840,000 covering 70 wells in 5 counties of Oklahoma.
These and other expenditures have been funded through cash flow and bank borrowings on Mexco's line of credit which totals $5,750,000 to date. The Company's debt-equity ratio based on current debt, and equity as of September 30, 2014 is 42%.
Mexco's President, Tammy McComic, commented, "These natural gas properties have lower operating costs than oil production, are long lived and natural gas pricing has been more stable. Furthermore…
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