Thursday, February 16, 2012

Rock Energy divests Montney assets for $46M

Rock Energy Inc has agreed to sell its entire Montney natural gas assets in Elmworth area of Alberta for C$46 million (US$46.185 million). Rock Energy has closed the sale of some of its Montney gas assets (Transaction 1) to a Canadian oil and gas producer for C$36 million (US$36.177) on 9-Feb-2012. The remaining assets are being sold (Transaction 2) to a second Canadian oil and gas producer for C$10 million (US$10.008 million). Closing of Transaction 2 is anticipated to occur before the end of Feb-2012, subject to necessary approvals. Continue reading here..

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