Amen Properties (AMEN) Acquires Minority Oil and Gas Interests in Permian Basin

August 26, 2008 4:43 PM EDT

Amen Properties (Nasdaq: AMEN) has acquired a 5% working interest and 4% net revenue interest in certain oil and gas properties from Aghorn Energy, Inc. for a purchase price of $1,750,000, effective June 1, 2008. The Properties were acquired by Aghorn from Exxon Mobil Corporation (NYSE: XOM) on June 1, 2008 and consist of Exxon Mobil's leasehold interests in approximately 30,000 acres in the Permian Basin of Texas known as the Yarbrough and Allen Field.

AMEN Properties, Inc. (AMEN) operates in three categories: commercial real estate in secondary stagnant markets, commercial real estate in out of favor growth markets, and oil and gas royalties.[SM]

Related Categories

Mergers and Acquisitions

Stocks Mentioned

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?