Templar Agrees to Pay $588M for Newfield's Granite Wash Assets
August 04, 2014
Templar Energy, a portfolio company of Trilantic Capital Partners and First Reserve, has agreed to pay $588 million for the Granite Wash assets of Newfield Exploration Company (NYSE: NFX). The deal is expected to close in the third quarter of 2014. The area transacted covers approximately 42,000 net acres, from which 60% of production is natural gas. Newfield plans to use the proceeds to call its 71/8% senior subordinated notes due in 2018.