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BRIEF-CHAPARRAL ENERGY ANNOUNCES SALE OF EOR ASSETS FOR $170 MLN
October 13, 2017 / 5:14 PM / 2 months ago

BRIEF-CHAPARRAL ENERGY ANNOUNCES SALE OF EOR ASSETS FOR $170 MLN

Oct 13 (Reuters) - Chaparral Energy Inc:

* CHAPARRAL ENERGY ANNOUNCES SALE OF EOR ASSETS FOR $170 MILLION

* ‍TO SELL NORTH BURBANK AND TEXAS PANHANDLE EOR ASSETS PLUS CONTINGENT PAYMENTS TO UNDISCLOSED BUYER​

* ‍PROCEEDS FROM DEAL WILL ALLOW TO REDUCE DEBT, INCREASE LIQUIDITY, MATERIALLY LOWER OVERALL TOTAL OPERATING COST STRUCTURE​

* ‍UNDER TERMS OF AGREEMENT, CHAPARRAL HAS RECEIVED AN $11.9 MILLION PERFORMANCE DEPOSIT​

* ‍ESTIMATED CURRENT PRODUCTION ASSOCIATED WITH EOR ASSETS IS APPROXIMATELY 5,700 BOE/D​ Source text for Eikon: Further company coverage:

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