Viking Energy Group, Inc. Closes on Acquisition of Texas and Louisiana Oil and Gas Properties and Financing Transaction
VIKING ENERGY GROUP INC (VKIN)
NASDAQ:AMEX Investor Relations:
vikingenergygroup.com
Company Research
Source: GlobeNewswire
HOUSTON, TX, Feb. 04, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Viking Energy Group, Inc. (OTCQB: VKIN), a Nevada corporation (“Viking” or the “Company”) is pleased to announce it completed yesterday its previously disclosed acquisition of interests in certain oil and gas properties located in the states of Texas and Louisiana and certain entities owning oil and gas properties located in the state of Louisiana through a majority owned subsidiary of the Company, Elysium Energy, LLC (“Elysium”). The acquisition was financed through proceeds raised through a term loan credit facility (secured by the assets of Elysium and its subsidiaries) and other sources. The assets purchased by Elysium (including those held by the entities acquired in the transaction) include working interests and over-riding royalty interests in approximately 72 wells in Texas and approximately 55 wells in Louisiana, along with associated equipment. “We are very excited to close the Acquisition, which is part
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