Sundance’s shale sale fuels $US150m profit
Sundance Energy has generated a $US150 million profit on the sale of its stake in a field in the Bakken shale in Texas, which it will use to repay debt and redirect into development projects.
Sundance Energy has generated a $US150 million profit on the sale of its stake in a field in the Bakken shale in North Dakota, which it will use to repay debt and redirect into development projects.
The interest in the South Antelope field fetched $US172.4 million ($165 million), representing a tripling of Sundance’s investment in the asset, the company said on Friday.
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