BUYERS:

Empire Petroleum Corp.

SELLERS:

Pardus Oil & Gas LLC

DETAILS:

VOLUMES: 400 BOE/d

ACRES: 30397 Acres

NOTES:
The deal included 139 gross wells and 30,397 net acres with production of 400 boe/d. The deal will be paid for via a contingency value payment instead of a cash payment, with quarterly payments to be made "based upon incremental oil production over a certain minimum level of daily average production from the Sellers’ assets, and an average realized oil price of $40 or more per barrel of oil through December 31, 2022."

REGIONS:

East Texas/Louisiana