Scandoil  

Sundance to acquire approximately 4,800 net mineral acres in McMullen County


Published Feb 28, 2014
Sundance Energy Australia Limited

Sundance Energy Australia Limited announce that on 25 February 2014 in the US it signed a Lease Acquisition and Development Agreement (LAA) for the acquisition of approximately 4,800 net mineral acres in McMullen County, Texas.

The purchase price for the acreage includes an upfront payment (US$10.0 million) and two separate earn out payments due upon commencement of drilling (US$7.7 million) and payout of the first six wells drilled on the acreage (US$7.7 million). The term of the LAA is two years and provides a one year extension for $500 per acre extended.

Tags: Sundance Energy Australia Limited




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