Eagle Energy Trust Completes $26 Million Acquisition In Texas

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
26MM
Description

Acquired producing petroleum properties in Hardeman County.

Eagle Energy Trust (TO: EGL-UN) closed its acquisition of producing petroleum properties in Hardeman County, Texas for $26.3 million, the company announced Nov. 25.

The acquisition was fully funded under Eagle's credit facility. In conjunction with the closing of the acquisition, Eagle has also received final approval from its lenders with respect to an increase in the borrowing base under its revolving credit facility to $80 million from $70 million, plus a new one-year non-revolving credit facility of $10 million.

Eagle Energy Trust was created to provide investors with a publicly traded, oil and natural gas focused, distribution producing investment with favorable tax treatment relative to taxable Canadian corporations. The company is based in Calgary with offices in Houston.