PLANO TX / ACCESSWIRE / August 19, 2024 / Eagle Energy Partners ("EEP" or the "Company") announces that it has entered into a Purchase and Sale Agreement (the "Transaction") with Integrous Energy Partners LLC ("IEP"). This agreement follows the Company's previously announced Letter of Intent and marks a significant milestone in EEP's strategic growth plan, as the Company seeks to acquire strategic assets from IEP, positioning itself for enhanced operational efficiencies and future growth.
Under the terms of the agreement, EEP will acquire substantially all of the assets of IEP which are generally comprised of leasehold interests in Roosevelt County in Montana, including interests in oil and gas leasehold rights held by production, oil and gas wells and saltwater disposal assets, surface equipment and facilities, geological and geophysical intellectual property including seismic and optioned acreage controlled by IEP. The acquisition consideration is to be paid entirely with EEP stock at $1 per share, with the aggregate purchase price to be determined through an independent valuation.
"We are excited about the opportunities the Integrous acquisition brings," said Jeremy A. Paul, CEO of EEP, "the strategic alignment of assets and the addition of management members from IEP with both capital markets and oil and gas experience, will strengthen our operations and accelerate our path to becoming a public company."
The Company plans to leverage IEP's industry relationships to grow its management team upon the closing of the Transaction, bringing extensive expertise and a proven track record in the oil and gas sector.
The Transaction is subject to customary closing requirements and contingencies and is expected to close in the next few months.
About Integrous Energy Partners GP, LLC
Integrous Energy Partners LLC, headquartered in Austin, Texas, is an oil and gas E&P company owning certain assets in the Williston Basin (Montana). IEP's management team currently operates production properties and including optioned acreage, controls over 25,000 acres in a conventional production area with additional stacked unconventional pay zones including the Three Forks, Bakken, and others, providing upside for future development. Integrous' project focus has been on the "Nisku" formation and lower risk, conventional properties, having strong economics across a broad range of commodity prices. Integrous' expert team and affiliates have 60+ years experience in the Oil and Gas sector. More information may be found at www.integrousep.com.
About Eagle Energy Partners
Eagle Energy Partners is an independently owned oil and gas asset acquisition and management company with an extensive - and growing - portfolio of income-producing assets and developmental drilling inventory in Texas, Oklahoma, and the Gulf Coast Region. EEP's acquisition model focuses on proven producing fields with extensive infrastructure, existing wells for immediate cash flow, and upside through additional drilling, recompletion and/or reworks.
Investor Relations:
Frank Pogubila
SVP
Integrous Communications
W - 951.946.5288
E - fpogubila@integcom.us
SOURCE: Eagle Natural Resources, LLC
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