logo
Share SHARE
FONT-SIZE Plus   Neg

Constellation Energy Partners To Sell Alabama Assets To Castleton Commodities

Constellation Energy Partners LLC (CEP) announced Monday that it has executed a definitive agreement to sell its Robinson's Bend Field assets and operations, which are located in the Black Warrior Basin in Tuscaloosa County, Alabama, to a subsidiary of Castleton Commodities International LLC.

The sale encompasses over 500 operating natural gas wells in the Robinson's Bend Field together with related leasehold interests and infrastructure.

The transaction is expected to close in the first quarter 2013 and will have an effective date of December 1, 2012. The company anticipates that net proceeds received in the transaction will be used to reduce outstanding debt.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
German automaker Daimler AG reported Wednesday a slight increase in second-quarter net profit, while EBIT, a key earnings metric, climbed on higher unit sales. Looking ahead, the company said it projects significant growth in Group EBIT, revenues and unit sales in the year 2017. Toyota is working on developing an electric car with a fast charging battery, the Chunichi Shimbun reported on Tuesday. Travelers leaving Comic-Con International in San Diego last weekend were in for a rude shock after United Airlines said that comic books were banned in their checked luggage. United Airlines claimed it was a Transportation Security Administration or TSA-mandated rule for all airlines operating out of San Diego over this weekend.
comments powered by Disqus
Follow RTT