CANBERRA: Sundance Energy Australia Ltd. (NASDAQ: SNDE) said March 2 it entered an agreement to sell its Anadarko Basin assets in Oklahoma. An undisclosed buyer agreed to pay $18.5 million to acquire about 18,500 net acres. The acquisition also includes 68 gross (29.3 net) operated and nonoperated producing wells.
Sundance’s Anadarko assets target the Mississippian Lime and Woodford Shale formations and are located in Garfield, Logan, Noble and Oklahoma counties, Okla., according to the company’s website. The effective date of the acquisition is Aug. 1, 2016. The transaction is expected to close in May.
