QR Energy Closes Ark-La-Tex Asset Acquisition
Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
109MM
Description
Purchased predominately oil properties in the Ark-La-Tex area.
QR Energy LP (NYSE: QRE) closed its previously announced acquisition of predominantly oil properties located in the Ark-La-Tex area from a private seller for $109.2 million.
The transaction is a bolt-on acquisition of mature, legacy properties contiguous with existing company assets in the East Texas oil field. QR Energy financed the acquisition with cash on hand and borrowings under its bank credit facility.
QR Energy LP is an independent energy company engaged in the acquisition, exploitation, development, and production of oil and natural gas properties in the US. The company is headquartered in Houston.