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.

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


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 ...