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Panhandle Oil And Gas Details Financial Updates

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June 19, 2014

Panhandle Oil and Gas Inc. (NYSE: PHX) said June 17 that it closed its acquisition of some Eagle Ford assets for $80.4 million.

The transaction was first announced May 15, the company said, noting that it was funded by Panhandle’s credit facility. The assets include a 16% nonoperated working interest in a block of 11,100 gross leasehold acres (1,775 net acres), Panhandle said.

This block is HBP and “largely contiguous,” the company added. It has 63 producing wells—57 in the Eagle Ford, five in the Pearsall and one in the ...

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