QR Energy (QRE) has acquired $145M of oil properties located in the Jay field in the Florida...
Wednesday, January 2, 8:10 PM ETQR Energy (QRE) has acquired $145M of oil properties located in the Jay field in the Florida Gulf Coast area from its sponsor, Quantum Resources Fund. The deal was closed on Friday and was financed with cash and borrowings under the firm's bank credit facility. Current net production from the mature wells comes to approximately 2500 Boed (90% oil and 10% NGLs), with estimated reserves of 11.3M Boe as of December 31. FY13 adjusted EBITDA for the properties is expected to exceed $35M. Shares +1.21% AH.
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