RIL closes recently announced sale of assets in PennsylvaniaNovember 24, 2017
Mumbai: Reliance Marcellus II, LLC (“Reliance”) a subsidiary of Reliance Holding USA, Inc., and Reliance Industries Limited (“RIL”), announced the closing of recently announced sale of its interest in certain upstream assets; which were operated by Carrizo Oil & Gas, Inc to BKV Chelsea LLC, an affiliate of Kalnin Ventures.
In a transaction announced on October 06, 2017, Reliance agreed to sell its entire working interest in these upstream assets to BKV Chelsea for purchase consideration of $126 million with an effective date of April 01, 2017. Additionally, under the definitive documents, a contingent amount of up to $11.25 million may be paid to Reliance between years 2018 to 2020 based on certain gas price thresholds being achieved.
The transaction closed on November 21, 2017 and Reliance received the purchase consideration subject to usual and customary purchase price adjustments.
- Chief Minister lays stone of Gujarat Sports University headquarters on 130-acre near Vadodara
- ACB Gujarat nabs State GST staffer, CA for taking bribe from shop owner
- S. Murali Krishna appointed new Chief Electoral Officer of Gujarat
- Water supply and filling of Tappar dam re-started slowly even as repair work of broken flooring of feeder canal also in progress
- Centre approves additional grant of Rs 1131 crore for Narmada project, Gujarat govt thanks the PM
- Kesar mango makes first presence of the season in Marketing yard