Seneca Resources Exits California in Deal for Cash, Fewer Emissions
Transaction Type
Buyers
Basin
California
Announce Date
Post Date
Estimated Price
310MM
Description
To buy CA oil assets producing about 40 MMcfe/d of which 92% is oil; consideration includes $280 MM in cash at closing and up to three annual contingent payments potentially totaling $30 MM from 2023 to 2025. (Expected to close June 30)