Jed Oil Inc., Didsbury, Alberta, (NYSE: JDO) plans to sell Alberta and Wyominng oil and gas assets held by the company and its two subsidiaries, Jed Production Inc. and Jed Oil (USA) Inc. in two deals to undisclosed buyers for C$$2.8 million in cash and C$1.25 million in stock in a deal valued at C$4.1 million.
The Alberta assets are in the Ferrier and Wizard Lake areas and will be acquired by a private Alberta-based E&P.
The Wyoming assets are in the Pinedale area and will be acquired by a U.S.-based limited partnership and operated by an Alberta-based subsidiary.
The assets are non-core to Jed and part of the company’s reorganization under creditor protection terms. The deal is expected to close by year-end.
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