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Saturday, April 09, 2011 11:23:47 PM
Brazos's buy of Renfro Energy delays on prolonged audit
2011/03/30 04:05:38
Mar 30, 2011 (M&A Navigator via COMTEX News Network) -- US miner Brazos International Exploration (OTCBB:BRZL) said the proposed acquisition of Dallas-based oil company Renfro Energy will be delayed by one month as an audit process will take more time to complete. The deal was initially scheduled to close by end-March. Once completed, the acquisition will add assets with existing production and injection wells, including developmental and exploration acreage with a potential for significant oil reserves. The transaction is also in line with Brazos' strategy focusing on acquiring and developing oil and gas assets in the onshore Gulf Coast region. Country: , USA Sector: Petroleum/Natural Gas/Coal Target: Renfro Energy LLC Buyer: Brazos International Exploration Inc Type: Corporate acquisition Status: Delayed
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