Pardee Resources Company Divests Pennsylvania Oil and Gas Interests
Pardee Resources Company (OTC: PDER) has announced the completion of a significant divestment, selling approximately 8,800 acres of oil and gas interests in Elk and Cameron Counties, Pennsylvania for $10 million. The divested assets, which were originally acquired over a century ago, were non-revenue producing and considered non-strategic to the company's operations, according to President and CEO Carleton P. Erdman.
Pardee Resources Company (OTC: PDER) ha annunciato il completamento di una significativa dismissione, vendendo circa 8.800 acri di interessi petroliferi e del gas nelle contee di Elk e Cameron, Pennsylvania, per 10 milioni di dollari. Gli asset ceduti, originariamente acquisiti piĆ¹ di un secolo fa, non generavano ricavi e sono stati considerati non strategici per le operazioni dell'azienda, secondo il Presidente e CEO Carleton P. Erdman.
Pardee Resources Company (OTC: PDER) ha anunciado la finalizaciĆ³n de una importante desinversiĆ³n, vendiendo aproximadamente 8,800 acres de intereses petroleros y de gas en los condados de Elk y Cameron, Pensilvania, por 10 millones de dĆ³lares. Los activos vendidos, adquiridos hace mĆ”s de un siglo, no generaban ingresos y se consideraban no estratĆ©gicos para las operaciones de la compaƱĆa, segĆŗn el presidente y CEO Carleton P. Erdman.
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Pardee Resources Company (OTC : PDER) a annoncĆ© lāachĆØvement dāune cession importante, vendant environ 8 800 acres dāintĆ©rĆŖts pĆ©troliers et gaziers dans les comtĆ©s dāElk et Cameron, en Pennsylvanie, pour 10 millions de dollars. Les actifs cĆ©dĆ©s, acquis il y a plus dāun siĆØcle, ne gĆ©nĆ©raient pas de revenus et Ć©taient considĆ©rĆ©s comme non stratĆ©giques pour les opĆ©rations de lāentreprise, selon le prĆ©sident-directeur gĆ©nĆ©ral Carleton P. Erdman.
Pardee Resources Company (OTC: PDER) hat den Abschluss eines bedeutenden Verkaufs bekannt gegeben und etwa 8.800 Acres an Ćl- und Gasinteressen in den Counties Elk und Cameron, Pennsylvania, fĆ¼r 10 Millionen US-Dollar verƤuĆert. Die verƤuĆerten Vermƶgenswerte, die vor Ć¼ber einem Jahrhundert erworben wurden, erwirtschafteten keine Einnahmen und galten als nicht strategisch fĆ¼r die UnternehmensaktivitƤten, so PrƤsident und CEO Carleton P. Erdman.
- Secured $10 million in immediate cash from sale of non-productive assets
- Strategic divestment of non-revenue generating properties
- Improved balance sheet through monetization of legacy assets
- Reduction in total land holdings and potential future development opportunities
In addition to historical statements, this press release contains statements relating to future events and our future results.Ā These statements are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995.Ā While these forward-looking statements represent our judgments and future expectations concerning our business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations.Ā These factors include, but are not limited to, difficult economic conditions and other risks and uncertainties.Ā As a result, these forward-looking statements may turn out to be incorrect. We are under no obligation to (and expressly disclaim any obligation to) update or alter these forward-looking statements whether as a result of new information, future events or otherwise.
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SOURCE Pardee Resources Company
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