Finance / United States
If you would like to subscribe to Corporate Financing Week and gain instant access to this article, please click here to subscribe.
If you would like to take a trial to Corporate Financing Week please click on the trial link below.
Southwestern Sells Arkansas Gas
July 2008 | M&A News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
If you would like to subscribe to Corporate Financing Week and gain instant access to this article, please click here to subscribe.
If you would like to take a trial to Corporate Financing Week please click on the trial link below.
Texan-based integrated energy firm Southwestern Energy has announced the definitive closure of the sale of its subsidiary utility, Arkansas Western Gas to SourceGas for US$230mn. In so doing, Southwestern has divested the last of its interests in natural gas distribution, allowing it to focus on exploration and production moving forward. It also announced that it will sell its oil and gas leases in the Permian basin for approximately US$225mn in cash. The two transactions, which are expected to close in Q308, should lead to gross proceeds of US$390mn.