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Eagle Energy Trust completes acquisition of producing oil assets in Texas


Published Nov 27, 2013
Eagle Energy Trust-2

Eagle Energy Trust is pleased to announce the closing of its previously announced acquisition (the "Acquisition") of producing petroleum properties in Hardeman County, Texas (the "Acquired Assets").

The purchase price of the Acquired Assets was $US 26.3 million, subject to closing adjustments. The Acquisition was fully funded under Eagle's credit facility.

In conjunction with the closing of the Acquisition, Eagle has also received final approval from its lenders with respect to an increase in the borrowing base under its revolving credit facility to $US 80 million from $US 70 million, plus a new one-year non-revolving credit facility of $US 10 million.

Tags: Eagle Energy Trust




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