Scandoil  

Rooster Energy to acquire Cochon Properties, LLC, and Morrison Well Services, LLC


Published Mar 11, 2014
Rooster Energy Ltd.

Rooster Energy Ltd. has entered into: (i) a membership interest contribution agreement (the "Cochon Agreement") dated March 7, 2014 with the members of Cochon Properties, LLC (Cochon) to acquire 100% of the membership interests in Cochon for consideration of US$30 million (the "Cochon Acquisition"); and (ii) a membership interest contribution agreement (the "Well Services Agreement" and, together with the Cochon Agreement, the "Agreements") dated March 7, 2014 with Morrison Energy Group, LLC, ("MEG") to acquire 100% of the membership interest in Morrison Well Services, LLC ("Well Services") for consideration of US$95 million (the "Well Services Acquisition" and, together with the Cochon Acquisition, the "Transaction").

Pursuant to the Transaction, as further described below, Rooster will acquire Cochon, which owns oil and gas leases covering three shallow water, offshore Gulf of Mexico oil and gas fields, and Wells Services, the primary business of which is the plugging and abandonment of wells with 15 rigless plug and abandonment units.

Tags: Rooster Energy




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml