Cubic Energy Inc. (NYSE: QBC) extends the closing of the previously announced purchase of Gastar Exploration Ltd.'s (NYSE: GST) East Texas properties.
The closing was extended to June 28 with a termination date of July 12 in order to allow additional time to finalize financing for the transaction. As compensation for the extension of the closing date, the parties have agreed to reduce certain identified due diligence negative adjustments to the purchase price by US $350,000.
Cubic Energy Inc. is an independent energy company engaged in the exploration, development, and production of crude oil, natural gas, and NGLs in Texas and Louisiana. The company is based in Dallas.
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