Approach Resources Inc.
Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
210MM
Description
Approache Resources Inc. and its partner Wildcat Permian Services LLC closed on a previously-announced sale of Wildcat to an affiliate of JP Energy Development LP.
Approach Resources Inc. (Nasdaq: AREX) announced Oct. 8 that it and partner Wildcat Permian Services LLC completed a previously-announced sale of Wildcat to an affiliate of JP Energy Development LP for $210 million in cash, subject to customary post-closing conditions, adjustments and escrows.
Cash proceeds to Approach are expected to total approximately $108 million, before taxes and subject to customary post-closing adjustments and escrows.
Approach is an independent oil and gas company with core operations, production and reserves located in the Permian Basin in West Texas.