Sundance Energy Australia to sell Dimmit, Texas assets

Company News

by Rachael Jones

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.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.