One-Page Deal Sheet
PDC Sells Off Interest in Marcellus Shale JV
Mountaineer Keystone LLC PDC Energy, Inc.
Announced Date
July 30,2014
Effective Date
January 01,2014
Close Date
October 14,2014
Transaction Type
Property
Enterprise Value (EV)($MM)
250
Asset/Basin:
{Appalachia,Marcellus}
TargetZones:
{"Marcellus Shale"}
Proved Reserves
Location
Region
Northeast
Country
United States
State
Pennsylvania
Play
Production & Reserves Production
Production Mix
Reserves
Transaction Details: Require Private Equity Subscription
Closing Announcement - October 15, 2014
PDC Energy, Inc. has closed the sale of its fifty percent interest in PDC Mountaineer LLC (PDCM), a Marcellus Joint Venture for $250 million.
Initial Announcement - July 30, 2014PDC Energy, Inc. has announced that it agreed to sell its fifty percent interest in PDC Mountaineer LLC, a Marcellus Joint Venture, to Mountaineer Keystone Energy, LLC for approximately $250 million subject to certain purchase price adjustments.
PDC's net pre-tax proceeds from the sale, after its share of JV debt repayment and other working capital adjustments, is expected to…
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