RAM Energy Resources, Inc. (RAME) Closes on Sale of Texas Assets
RAM Energy Resources, Inc. reported that the company has closed on the sale of producing oil and gas assets in the United States. The transaction is part of the company’s strategic repositioning announced earlier in the year. RAM Energy Resources, Inc. sold the company’s properties in the Barnett Shale and Boonsville area to Milagro Producing, LLC, a private oil and gas company. The company paid $43.7 million in cash subject to closing adjustments. The deal closed on December 8, 2010. RAM Energy Resources, Inc. said that the company would use $16 million of the proceeds from the sale to pay…