ACCESS Newswire
17 Nov 2023, 20:35 GMT+10
PLANO, TX / ACCESSWIRE / November 17, 2023 / Eagle Energy Partners ('EEP' or the 'Company'), today announced that it has taken a significant step towards the acquisition of Integrous Energy Partners GP, LLC ('IEP'). In a non-binding Letter of Intent (LOI) signed by both parties, the proposed acquisition outlines the key terms and conditions of the transaction.
Under the terms of the LOI, EEP or one of its wholly owned affiliates plans to acquire the substantial assets of IEP including interests in oil and gas leasehold rights located primarily in northern Montana's Williston Basin. The purchase will be conducted on a cash-free, debt-free basis, with the purchase price to be determined through an independent valuation.
'We are excited about the potential of this acquisition,' said Jeremy A. Paul, CEO of Eagle Energy Partners. 'This strategic acquisition will allow us to expand our presence in the energy sector while enhancing value to our stakeholders.'
The LOI also outlines the conditions for the transaction, which include completing due diligence on the assets, execution of Definitive Agreements, obtaining regulatory approvals, and ensuring there are no significant adverse changes in the Company's condition.
Eagle Energy Partners is eager to advance the negotiation process and is targeting to close the transaction by December 31, 2023.
About Integrous Energy Partners GP, LLC
Integrous Energy Partners, GP LLC, ('IEP') headquartered in Austin, Texas, is an oil and gas E&P company owning certain assets in the Williston Basin (Montana). IEP's management team currently operates production properties and including optioned acreage, controls over 25,000 acres in a conventional production area with additional stacked unconventional pay zones including the Three Forks, Bakken, and others, providing upside for future development. Integrous' project focus has been on the 'Nisku' formation and lower risk, conventional properties, having strong economics across a broad range of commodity prices. Integrous' expert team and affiliates have 60+ years experience in the Oil and Gas sector. More information may be found at www.integrousep.com.
About Eagle Energy Partners
Eagle Energy Partners is an independently owned oil and gas asset acquisition and management company with an extensive - and growing - portfolio of income-producing assets and developmental drilling inventory in Texas, Oklahoma, and the Gulf Coast Region. EEP's acquisition model focuses on proven producing fields with extensive infrastructure, existing wells for immediate cash flow, and upside through additional drilling, recompletion and/or reworks.
Investor Relations:
Frank Pogubila
SVP
Integrous Communications
W - 951.946.5288
E - [email protected]
SOURCE: Eagle Natural Resources, LLC
Get a daily dose of California Telegraph news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to California Telegraph.
More InformationMADRID, Spain: Liverpool footballer Diogo Jota and his younger brother, André Silva, have died in a car accident in Spain. Spanish...
LONDON, U.K.: An unrelenting heatwave sweeping across Europe has pushed early summer temperatures to historic highs, triggering deadly...
President Donald Trump's plans to build a space-based Golden Dome missile defense shield have drawn immediate criticism from China,...
NEW YORK CITY, New York: Paramount has agreed to pay US$16 million to settle a lawsuit brought by U.S. President Donald Trump over...
LONDON, U.K.: British Prime Minister Keir Starmer won a vote in Parliament this week to move ahead with changes to the country's welfare...
WASHINGTON, D.C.: President Donald Trump will meet Israeli Prime Minister Benjamin Netanyahu at the White House on Monday. President...
FRANKLIN, Tennessee: Hundreds of thousands of Nissan and Infiniti vehicles are being recalled across the United States due to a potential...
REDMOND, Washington: Microsoft is the latest tech giant to announce significant job cuts, as the financial strain of building next-generation...
LONDON UK - U.S. stock markets were closed on Friday for Independence Day. Global Forex Markets Wrap Up Friday with Greeback Comeback...
SANTA CLARA, California: Nvidia came within a whisker of making financial history on July 3, briefly surpassing Apple's all-time market...
SACRAMENTO, California: California's multibillion-dollar farms are facing a growing crisis—not from drought or pests, but from a sudden...
WASHINGTON, D.C.: President Donald Trump says the United States could soon reach a trade deal with India. He believes this deal would...