Dixie Energy Trust announced Dec. 29 that it wrapped up the sale of all its assets to Gulf Pine Energy Partners LP for $47.5 million in cash.
Dixie is a Calgary-based energy trust with oil and gas properties in the southern U.S., primarily in Mississippi and Alabama.
The assets include interest in the Maple Branch and Strong Field prospects in the Black Warrior Basin in Mississippi, Brooklyn Field and Queens Prospect in Alabama and the White Castle Dome prospect in Louisiana.
The winding-up of the trust includes the liquidation and distribution to unitholders, on a pro-rata basis, of the cash proceeds of the sale after provision for payment, retirement or discharge of all of the trust's obligations and liabilities.
Dundee Securities Ltd. and AltaCorp Capital Inc. were financial advisors to Dixie Energy in the transaction.
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