One-Page Deal Sheet
Twin Butte Divests Albertan Gas Asset
Not Disclosed Twin Butte Energy Ltd.
Announced Date
September 30,2013
Effective Date
September 30,2013
Close Date
September 30,2013
Transaction Type
Property
Enterprise Value (EV)($MM)
20
Location
Calculated Metrics( EV/Category)
Region
Canada
Country
Canada
Production Production
Calculated Metrics( EV/Category)
$/ Flowing
Transaction Details: Subscribe to see
Twin Butte Energy Ltd. has completed the disposition of a non-core, west central Alberta, gas asset for gross proceeds of $19.5 million effective September 30, 2013.
The property was producing approximately 300 boe per day, of which 72 percent was natural gas. Proceeds will initially be used to reduce debt which is now anticipated to be approximately $188 million at the end of Q3 2013. Net capital spending for the third quarter will be approximately $11 million providing a quarterly all-in payout ratio of approximately 76 percent and a year to date all-in payout ratio of 84 percent. The…
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