February 12, 2018 / 11:04 AM / 8 months ago

BRIEF-Wildhorse Resource Development Announces Divestment Of North Louisiana Assets

Feb 12 (Reuters) - Wildhorse Resource Development Corp :

* WILDHORSE RESOURCE DEVELOPMENT CORPORATION ANNOUNCES DIVESTMENT OF NORTH LOUISIANA ASSETS AND ACQUISITION OF LEE COUNTY PROPERTIES

* WILDHORSE RESOURCE DEVELOPMENT CORPORATION ANNOUNCES DIVESTMENT OF NORTH LOUISIANA ASSETS AND ACQUISITION OF LEE COUNTY PROPERTIES

* WILDHORSE RESOURCE DEVELOPMENT CORP - DEAL FOR FOR CONSIDERATION OF APPROXIMATELY $217 MILLION

* WILDHORSE RESOURCE DEVELOPMENT - CASH PROCEEDS FROM SALE WILL BE USED TO REPAY DEBT OUTSTANDING UNDER REVOLVING CREDIT FACILITY

* WILDHORSE RESOURCE DEVELOPMENT - DUE TO DEAL, ESTIMATES YEAR END NET DEBT TO ANNUALIZED EBITDAX RATIO BELOW TARGET LEVERAGE OF LESS THAN 2.0X

* WILDHORSE RESOURCE DEVELOPMENT-CO COULD RECEIVE PAYMENTS UP TO $35 MILLION BASED ON NUMBER OF WELLS SPUD BY BUYER ON NORTH LOUISIANA ASSETS OVER NEXT 4 YRS

* WILDHORSE RESOURCE DEVELOPMENT CORP - TO ACQUIRE PRODUCING AND NON-PRODUCING PROPERTIES IN LEE COUNTY, TX FOR ABOUT $19.3 MILLION Source text for Eikon: Further company coverage:

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