HRG Group subsidiary sells certain assets

HRG Group Inc.’s (NYSE: HRG) subsidiary, Compass Production Partners, has signed a definitive agreement to sell its Holly, Waskom, and Danville assets to Indigo Minerals for $160 million in cash.

The transaction is expected to close in the current fiscal quarter with an effective date of July 1.  Proceeds are expected to be used to reduce the borrowings outstanding under Compass' credit facility.

The properties sold include approximately 90,000 acres in East Texas and North Louisiana and produce approximately net 34 MMcfe per day of majority dry gas.

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