Emerald Oil completes transaction with Koch Exploration

Emerald Oil Inc. (NYSE MKT: EOX) has closed its transaction with Koch Exploration Co. LLC for a total consideration of $17.4 million. Koch Exploration also reimbursed Emerald for its proportionate share of existing AFEs, bringing the total transaction size to $22.8 million.

Proceeds from the sale will be used to pay down a portion of the outstanding borrowings under Emerald’s revolving credit facility.

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

Whitepapers

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...

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 ...