Hyde Park to merge with Santa Maria Energy Holdings

Hyde Park Acquisition Corp. II

Hyde Park Acquisition Corp. II (NASDAQ: HPAC), a special-purpose acquisition corporation, has signed a merger agreement with Santa Maria Energy Holdings LLC (SME), an independent energy company focused on the exploration and development of assets located in the Santa Maria Basin in California. 

Hyde Park stockholders and all of SME's existing unitholders, including affiliates of Kayne Anderson Capital Advisors LP, will receive stock in Santa Maria Energy Corp., the resulting parent company in the merger. The shares issued in the merger are expected to be listed on the NASDAQ Capital Market. SME management will continue to oversee the day-to-day operations of Santa Maria Energy Corp. following the merger.

The cash contributed by Hyde Park in the transaction, together with additional equity capital expected to be raised in conjunction with the merger, will be available for the development of SME's assets and for general corporate purposes.

The transaction is anticipated to close in the second quarter of 2014.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...