Sundance Energy Australia (ASX:SEA) today announced that it had entered into a definitive agreement to sell its assets in Dimmit County, Texas for a purchase price of US$29.5 million.
The Assets comprise 19 gross producing wells.
The sale is anticipated to close before September 2019.
In anticipation of this sale, the Company recently announced a 40 per cent increase to its borrowing base facility, this will remain unchanged upon the close of the sale.
Shares in Sundance Energy Australia (ASX:SEA) closed 7.69 per cent lower at 24 cents yesterday.