Carbon Energy Acquires Carbon Appalachian’s Natural Gas Producing Properties and Midstream Assets
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Carbon Energy Corporation completed the acquisition of Carbon Appalachian Company. Carbon Energy now owns 100 percent of Carbon Appalachian Company’s producing properties, natural gas gathering pipelines, and related facilities.
The purchase price for the membership units was approximately $58,000,000.
Prior to the acquisition, the assets were managed by Carbon on behalf of Carbon Appalachian Company, LLC and were integrated into Carbon’s Southern Appalachian Basin operations and midstream infrastructure.
Following the close of the transaction, Carbon’s Appalachian assets will be comprised of approximately 62,700 mcfe of net daily production, approximately 4,720 miles of natural gas pipelines and approximately 1,650,000 net acres of leasehold.
In addition to its Appalachian asset base, Carbon through its affiliate Carbon California Company, LLC owns and operates oil and natural gas producing properties and related facilities in the Ventura Basin of California comprised of approximately 1,745 barrels of net daily oil and liquids equivalent production.
About Carbon Energy
Carbon Energy Corporation is an independent oil and gas company engaged in the exploration, development and production of oil and natural gas in the United States. The company’s business is comprised of the assets of Nytis Exploration (USA) Inc. which conducts the company’s operations in the Appalachian and Illinois Basins, and of its investment affiliates, Carbon Appalachian Company, LLC which owns oil and gas properties in Appalachia and Carbon California Company, LLC which owns oil and gas properties.
To stop by Carbon Energy’s website, CLICK HERE
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