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Emerald Oil completes transaction with Koch Exploration


Published Oct 5, 2015
Emerald Oil, Inc.

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.

Tags: Emerald Oil, Koch Exploration Company




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