|
| Home : Lone Pine Resources Announces Non-Core Asset Dispositions |
|
Oct 09
2012 |
Lone Pine Resources Announces Non-Core Asset Dispositions |
|
CALGARY, ALBERTA--(Marketwire - Oct. 9, 2012) - Lone Pine Resources Inc. ("Lone Pine" or the "Company") (NYSE:LPR)(TSX:LPR) announces that it has entered into two separate definitive agreements with private oil and gas companies to dispose of certain non-core assets in the Kaybob area of the Deep Basin for total gross cash proceeds of $19.0 million, subject to normal course closing adjustments. On a combined basis, these assets had current net sales volumes of approximately 3.4 MMcfe/d (82% natural gas) based on field estimates and total net estimated proved reserves of 11.1 Bcfe at December 31, 2011, determined in accordance with U.S. Securities and Exchange Commission guidelines. |
|
|
|
| Source:http://www.marketwire.com/mw/release.do?id=1710358&sourceType=3 |
| |
|
Related News
|
» Mackie Research to Acquire NCP Northland Capital Group of Companies
» Romney Surges in Popularity After First Debate
|
|
|
