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.   

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


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...