StockMarketWire.com - Riverstone Holdings said it had agreed its interests in Mexico-focused Sierra Oil & Gas to Germany's DEA Deutsche Erdoel, for an undisclosed price.

The transaction was expected to close during the first half of 2019, following approval by Mexico's antitrust and hydrocarbons regulators.

Payment for the acquisition would comprise an upfront cash sum 'consistent with its current valuation', plus subsequent earn-outs and adjustments related to the results of upcoming appraisal and exploration activities.




Story provided by StockMarketWire.com