Deal Snapshot
TITAN ENERGY CLOSES USD 105M SALE OF RANGELY FIELD STAKE
Friday 11 August 2017

Australian oil and gas exploration and production company Titan Energy, LLC (ASX: TTE) (OTCQX: TTEN) has closed the divestiture of its 25% non-operated interest in the Colorado, US-based Rangely Field for USD 105m subject to customary closing adjustments.
This deal was announced in June. Rangely is a CO2 flood located in Rio Blanco County, Colorado, and operated by Chevron. The transaction includes the sale of Titan's interest in Rangely, its 22% interest in Raven Ridge Pipeline, a CO2 transportation line, as well as surrounding acreage in Rio Blanco and Moffat Counties, Colorado. In 1Q17, the Rangely assets generated approximately 2,500 boepd of net production (90% oil, 10% liquids), Tital said.


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Details
Date Published: 11/08/2017
Target: Rangely Field/25% non-operated interest
Country: USA
Deal Size: 105m (USD)
Sector: Petroleum/Natural Gas/Coal
Type: Divestment
Financing: Cash
Status: Closed
Vendor: Titan Energy
Buyer:
Comment:


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