Elk Petroleum to Buy Freeport Gas Field, Plant Stake
04 January 2017 - 10:48AM
Dow Jones News
By Rhiannon Hoyle
SYDNEY--Australia's Elk Petroleum Ltd. (ELK.AU) said it has
agreed to buy Freeport-McMoRan Inc.'s (FCX) interest in a Wyoming
gas field and plant for US$20 million.
Sydney-based Elk said Wednesday it will acquire Freeport's 14%
stake in the Madden Gas Field and the Lost Cabin Gas Plant, as well
as associated pipeline systems. The field and plant are operated by
ConocoPhillips (COP), one of the largest U.S. shale producers.
Elk said the acquisition should be completed by Feb. 22.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
January 03, 2017 18:33 ET (23:33 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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