ELK Petroleum Limited
(ASX:ELK) has announced a final acquisition price for the purchase of some of Freeport-McMoRan Inc’s assets.
The oil and gas explorer and producer says the final agreed purchase price is US$17.5 million.
The deal involves ELK Petroleum acquiring a 14% interest in the Madden Gas Field,The Madden Deep Unit Gas Field and the Lost Cabin Gas Plant in North America.
ELK Petroleum Limited
(ASX:ELK) already paid a US$2 million deposit in January, with the remaining funds set to be paid in two tranches.
The scheduled acquisition has a closing date of 17 March 2017.