One-Page Deal Sheet
Terra Energy Sells Montney Shale Assets
Not Disclosed Terra Energy Corp.
Announced Date
December 04,2012
Close Date
December 14,2012
Transaction Type
Property
Enterprise Value (EV)($MM)
22
Location
Calculated Metrics( EV/Category)
Region
Canada
Country
Canada
Play
Production Production
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
Transaction Details: Require Private Equity Subscription
Terra Energy Corp. announces that its board of directors has authorized the sale of the Company's Montney Assets in northeast British Columbia for a total consideration of $78.0 million to an industry peer.
The transaction is to occur in two parts; the first part consisting of the immediate sale of 57 net sections of Montney rights located primarily in the Monias area of northeast British Columbia for a total cash consideration of $22.0 million and is scheduled to close on December 14, 2012. The second part of the transaction consists of an option for the purchaser to acquire, exercisable by…
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