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Bharat Vasandani Madhavan N. & Hari... Urvish Dave

Market & Company Research Store > Details

Year: 2012

Contents: 8 pages

Country: United States

Sector: Exploration and Production (Energy)
Memorial Production to Acquire Producing Oil and Gas Assets in Texas from Memorial Resource for $18m - Asset Transaction will Allow Memorial Production to Expand Mature Producing Assets in Texas - Deal Analysis from GlobalData

Summary

Memorial Production Partners LP (Memorial Production) agreed to acquire certain oil and natural gas producing assets located in East Texas, from Memorial Resource Development LLC (Memorial Resource), for a purchase consideration of $18.3m.

The assets are located primarily in the Willow Springs field in Gregg County, as well as in the Upshur, Rusk, Panola, Smith and Leon counties in East Texas.

John A. Weinzierl, chairman and CEO of Memorial Production, said, “This accretive transaction with our sponsor is consistent with our stated strategy to acquire assets that meet our acquisition criteria of mature, long-life producing properties. These assets are near our core existing East Texas properties and offer identified low-risk exploitation opportunities that will supplement our production profile.”

Scope

- Rationale behind Memorial Production buying assets from Meorial Resource
- Stratigic benefits for the companies involved in the transaction
- Geography covered - US

Reasons to buy

- Develop a sound understanding of the major M&A's, Partnerships, and Joint Ventures taking place in the oil and gas sector in Texas (US)

Keywords

Memorial Production, Memorial Resource, oil , gas, East Texas, South Texas, Texas, exploartion, production
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