Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/emerald-oil-completes-transaction-with-koch-explor.shtmlEmerald Oil completes transaction with Koch Exploration
Emerald Oil, Inc. has closed the previously announced transaction with Koch Exploration Company, LLC for total consideration of approximately $17.4 million,
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Emerald Oil, Inc. has closed the previously announced transaction with Koch Exploration Company, LLC for total consideration of approximately $17.4 million, including normal and customary closing adjustments.
Koch Exploration also reimbursed Emerald for their proportionate share of existing AFEs, bringing the total transaction size to $22.8 million.
The proceeds from the sale will be used to pay down a portion of the outstanding borrowings under the Company's revolving credit facility.
