Coho announces completion of sale of gas marketing and transportation segment.DALLAS--(BUSINESS WIRE)--April 3, 1996--Coho Energy Inc. (NASDAQ-NMS:COHO; TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CEE cee n. The letter c. ) announced the closing of the previously disclosed sale of its gas marketing and transportation segment. Total consideration for the segment was $23 million and net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). from the sale were used to reduce long term debt. Coho has entered into a long term gas sales contract Sales Contract Contract between a seller and buyer for the sale of goods, services, or both. with the purchaser of the segment for the company's production in the Monroe field together with a gas gathering contract for Coho and third party gas volumes. These contracts are on the same terms as the company had previously experienced. Coho Energy Inc. is a Dallas-based independent oil and gas producer focusing on exploitation of underdeveloped oil properties and exploration in the Mississippi Salt Basin. CONTACT: Coho Energy Inc., Dallas Jeffrey Clarke or Anne Marie O'Gorman, 214/774-8300 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion