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Provider: Thomson Reuters Stock Report
Provider: Pechala's Reports
Provider: Pechala's Reports
Provider: Reuters Investment Profile

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Earthstone Energy Inc and Oak Valley Resources, LLC announces strategic combination

Thursday, 15 May 2014 06:33pm EDT 

Earthstone Energy Inc and Valley Resources, LLC:Enteres into a definitive exchange agreement under which Earthstone will acquire all of the subsidiaries of Oak Valley.Acquisition includes, producing assets, undeveloped acreage, and about $138 million of cash, in exchange for about 9.1 million shares of common stock of Earthstone.The specified amount of cash represents existing cash on hand plus $107 million of capital commitments available to Oak Valley from its members in accordance with the terms of its limited liability company agreement.Upon completion of the Transaction, there will be about 10.9 million shares of Earthstone common stock outstanding with current Earthstone stockholders owning 16 pct. of the combined company and Oak Valley owning the remaining 84 pct. 

Company Quote

-0.02 -0.08%
22 May 2015