Sundance Energy Australia Limited Announces Agreement to Sell Dimmit County Assets for US$29.5 Million
SUNDANCE ENERGY AUSTRALIA LTD AMERICAN DEPOSIT (SNDE)
US:NASDAQ Investor Relations:
nasdaq.com/symbol/snde
Company Research
Source: GlobeNewswire
DENVER, July 17, 2019 (GLOBE NEWSWIRE) -- Sundance Energy Australia Limited (ASX: SEA) (NASDAQ: SNDE) (“Sundance” or the “Company”), a U.S. onshore oil and gas exploration and production company focused in the Eagle Ford in South Texas, today announced that it had entered into a definitive agreement to sell its assets in Dimmit County, TX (the “Assets”) for a purchase price of US$29.5 million, subject to customary adjustments at closing. The Assets comprise 19 gross producing wells on ~6,100 net acres and contributed 1,051 boepd in average daily sales volumes for the first quarter of 2019. The sale is anticipated to close prior to the end of September 2019. In anticipation of this transaction sale, the Company’s recently announced ~40% increase to its borrowing base facility did not include any reserves associated with the Assets in the calculation of the borrowing base. As such, the borrowing base will remain unchanged upon the close of the sale. Additionally, the Company’s previ
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