Harvest Oil & Gas Corp. landed an agreement on July 8 to sell its remaining assets as the Houston-based independent E&P and former affiliate of EnerVest Ltd. aims to begin the process of winding-up and returning capital to its shareholders.

The divestiture includes the sale of its Appalachian Basin position, which Harvest said in a statement will represent “substantially all of the assets of the company.”

Harvest agreed to sell the assets to an unaffiliated third party in exchange for $20.5 million, comprising $14.5 million of cash and a $6 million note. The holders of a majority of the common stock of Harvest have approved the transaction, according to the company’s release.

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