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Deals this week: Titan Energy, Petroleos del Peru, Bellatrix Exploration
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15 June 2017
Titan Energy has agreed to dispose its 25% stake in the Rangely oil field located in Rio Blanco County, Colorado, US, for $105m. The sale also includes 22% stake in Raven Ridge pipeline and acreage in Rio Blanco and Moffat counties in Colorado.
The field is estimated to hold net proven reserves of 162 billion cubic feet equivalent (bcfe) and produces at a rate of approximately 2,500 barrels of oil equivalent a day (boed).
RBC Richardson Barr is the financial advisor, while Jones Day is the legal advisor to Titan Energy for the transaction. ....

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