American Standard Energy Corp. (ASEN) Acquires 72,300 Net Acres from Geronimo Holding
American Standard Energy, an oil and gas exploration and production company with working interest assets in the Permian Basin and non-operated acreage in the Williston Basin and Eagle Ford resource prospects, today announced it has completed the acquisition of approximately 72,300 net acres and approximately 250 barrels of oil equivalent per day BOED of production from privately held Geronimo Holding Corp. American Standard paid Geronimo $10 million cash, an unsecured, subordinated note paid in the principal amount of $35 million, and 5 million shares of American Standard common stock, valued at $2.70 per share. The acquisition is complementary of American…
