One-Page Deal Sheet
The Exploration Company Acquires Output Exploration for $95.6 Million
The Exploration Company Output Exploration
Announced Date
April 01,2007
Close Date
April 02,2007
Transaction Type
Corporate
Enterprise Value (EV)($MM)
96
Asset/Basin:
{"East Texas (Gulf Coast) Fort Trinidad Field","Anadarko Basin Rush Springs Field"}
TargetZones:
{"Upper Glen Rose",W
Net Acres
Location
Country
United States
State
Texas
Transaction Details: Subscribe to see
The Exploration Company today announced it has entered into an agreement to acquire Output Exploration LLC, a privately held, Houston-based exploration and production firm, for $91.6 million in cash, subject to certain adjustments, and $4 million of TXCO common stock.
The transaction, the largest in TXCO’s history, will double the Company’s proved reserves and increase current oil and gas production by nearly two thirds. It includes:
Proved reserves of 40 billion cubic feet equivalent (Bcfe). TXCO estimates an additional 51 Bcfe probable and possible (2P/3P) reserves. (These are not presently…
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