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February 5, 2014
08:36 EDTNSLPNew Source Energy announces second acquisition in Southern Dome Field
New Source Energy Partners announced that it has acquired working interests in 23 producing wells and related undeveloped leasehold rights from an affiliate of Constellation Energy Partners. The properties are located in the Southern Dome field, located in Oklahoma County, Oklahoma. The transaction closed on January 31 with an effective date of August 1, 2013. The purchase price for the acquisition, after closing adjustments, was approximately $18.8M, of which $6.9M was paid in cash at closing, and the remaining $11.9M was paid by delivery of 488,667 common units of the Partnership. In addition, the Partnership also has agreed to pay additional consideration in the fourth quarter of 2014 if certain conditions are satisfied. The additional amount payable by the Partnership, if any, will be based on recently improved average daily production rates from these properties once these improved rates have been verified over a nine-month measurement period ending September 30, 2014, and will be calculated using the base pricing methodology for the acquisition, after accounting for the Partnership’s initial acquisition cost, certain capital expenditures and related costs of capital. Any additional amount owed will be payable in cash and/or additional common units of the Partnership, as determined by the Partnership.
News For NSLP From The Last 14 Days
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March 19, 2015
17:06 EDTNSLPNew Source Energy sees FY15 oilfield services revenue $120K-$140K
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17:04 EDTNSLPNew Source Energy reports Q4 EPS ($2.11), consensus (4c)
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March 16, 2015
08:09 EDTNSLPNew Source Energy announces postponement of Q4 earnings results
New Source Energy announced that it will require an extension of time to file its Annual Report on Form 10-K to allow for more time to finalize its year-end financial results. The Form 10-K would otherwise have been required to be filed no later than March 16, 2015. The company will reschedule its fourth quarter and full year 2014 earnings call based on the completion of the 10-K.

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