Pardee Resources completes oil and gas acquisition

Pardee Resources Co.

Pardee Resources Co. (OTC: PDER) has closed on the acquisition of 400,000 acres of oil and gas mineral interests located in West Virginia, Virginia, and Kentucky for $60.1 million. 

The acreage is currently leased to 27 different operating companies and generates royalty income from over 2,500 active natural gas wells. The acquisition was financed through available cash and will be immediately accretive to earnings.   

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