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News Breaks
April 3, 2014
14:53 EDTESCREscalera Resources Co. to form international joint venture
Escalera International Co., a subsidiary of Escalera Resources Co. announced it has signed a Memorandum of Understanding to enter into an energy joint venture headquartered in Tirana, Albania. The purpose of the proposed joint venture between Escalera International and AOR Albanian Oil Rafinery is to identify and acquire upstream oil and gas drilling opportunities along with related facilities and infrastructure in Albania. The JV will be owned equally by both parties and is subject to approval by both parties as well as the outcome of normal due diligence procedures conducted by both parties.
News For ESCR From The Last 14 Days
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July 23, 2015
06:17 EDTESCREscalera Resources Co. discloses sale of interests in Mesa Units for $12M
In a regulatory filing, Escalera Resources Co. disclosed that it entered into a Purchase and Sale Agreement with Vanguard Operating, an unaffiliated entity, pursuant to which the company will sell its interests in the Mesa Units located on the Pinedale Anticline in Southwestern Wyoming. The cash purchase price pursuant to the Agreement is $12M, subject to closing and post-closing adjustments. The company expects the sale to close on July 31, 2015. The proceeds will be used to reduce debt outstanding under the company’s credit agreement.

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