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
Federal Communications Commission Chairman Ajit Pai has announced plans to repeal the net neutrality rules implemented under President Barack Obama. Pai, who was appointed by President Donald Trump, said he circulated his draft order to his fellow FCC commissioners Tuesday morning, with the order... Reflecting expectations the House Republican tax reform bill would provide a relatively modest boost to economic growth, a new analysis by the Tax Policy Center found that the legislation would add about $1.3 trillion to the national debt over a decade. Uber has been hit with an $8.9 million civil penalty by Colorado for allegedly allowing drivers with questionable backgrounds to work for the ride-hailing company. The Colorado Public Utilities Commission or PUC said it has issued a Civil Penalty Assessment Notice or CPAN totaling $8.9 million to Rasier LLC, the parent company of Uber.
comments powered by Disqus
Follow RTT