Barnwell Industries posts Q&A update on planned sale of Canadian oil and gas business
BRN•Barnwell Industries is seeking shareholder approval to sell its Canadian oil and natural gas business to a Canadian corporation; a company Q&A outlines transaction terms, including the purchase price and retained royalty.
1. Sale terms and timing
Barnwell Industries posted a Q&A outlining terms of its planned sale of its Canadian oil and natural gas business, including the purchase price and a retained royalty. The company plans to operate the assets and retain all economics until closing, which remains subject to shareholder approval and other conditions, with timing not assured.
