Emerald Sells $10MM Sand Wash Basin Leases
January 8, 2013
Emerald Oil Inc. (NYSE: EOX) executed an agreement to sell its interests in 30,902 net mineral acres in the Sand Wash Basin to a private oil and gas company for US $10 million cash at US $325 per acre.
Closing will occur during the first quarter of 2013, contingent on due diligence and other conditions precedent in the sales agreement.
In a related transaction, the company has agreed to assign its interests in its Fly Creek coal bed methane operation and three Niobrara oil wells drilled in 2011 to the ...
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