One-Page Deal Sheet
Treaty Energy Sheds Nine West TX Leases
Heritage Oil Plc Treaty Energy Corporation
Announced Date
August 16,2013
Close Date
August 13,2013
Transaction Type
Property
Enterprise Value (EV)($MM)
1
Asset/Basin:
{Permian}
Transaction Details: Subscribe to see
Treaty Energy Corporation has sold a large portion of its existing marginal oil well assets in West Texas for $550,000 as part of the Company's long term re-organization strategy to decrease expenses and improve operational efficiency.
The Company also announced its plan to acquire a new well as part of its program to develop the Tuscola, Texas area.
Summary of Results in West TexasAs announced in February of 2013, management initiated several major actions to improve the Company's financial strength. The first major action announced by the Company included a full review of all leases in…
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