Seneca Resources Exits California in Deal for Cash, Fewer Emissions
Transaction Type
Buyers
Basin
California
Announce Date
Post Date
Estimated Price
$310.0MM
Description
To buy CA oil assets producing about 40 MMcfe/d of which 92% is oil; consideration includes $280 MM in cash at closing and up to three annual contingent payments potentially totaling $30 MM from 2023 to 2025. (Expected to close June 30)