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BNK petroleum oil and gas exploration and production company (19 cents. The TO) said on Sunday, has agreed TO sell most of its assets in Oklahoma Tishomingo exxon mobil (XOM) N), $147500000 TO finance its exploration programming and TO repay the debt.
In the past 3 years, shale fields in the United States and Canada have jumped output such as the emergence of drilling hydraulic fracturing method, prompting some energy companies selling assets to fund further exploration.
BNK said in a statement, exxon mobil corp. will buy BNK Tishomingo on foreign assets other than carney and wutong formation. The deal is expected to be done under the condition of habits in late April, it added.
"If the transaction is completed, the company will provide enough capital, chief executive of Wolf BNK working regner said in a statement:" in our own or with a partner, to accelerate the development and flexibility, we plan khine for exciting the European project.
BNK said, it is expected from the deal proceeds used to pay off in the line of credit.
Canada trading advice BNK Macquarie capital markets.