One-Page Deal Sheet
Range Resources Sells Tight Gas in Ohio
EV Energy Partners Lp Range Resources Corp
Announced Date
February 08,2010
Close Date
March 31,2010
Transaction Type
Property
Enterprise Value (EV)($MM)
330
Asset/Basin:
{"Appalachian Basin"}
TargetZones:
{"Clinton Sandstone"
Net Acres
% Oil:
Location
Region
Northeast
Country
United States
State
Ohio
Production Production
Transaction Details: Require Private Equity Subscription
Range Resources Corporation today announced that it has signed a definitive agreement with EV Energy Partners, L.P. and certain institutional partnerships managed by EnerVest, Ltd. to sell its tight gas sand properties in Ohio for a purchase price of $330 million. The sale is expected to close in late March and is subject to customary closing conditions and purchase price adjustments.
Several years ago, Range began to sell non-core properties with the goal of providing additional capital for its higher return projects. In addition, by divesting of its more mature properties, Range strengthens…
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