Compass Production to pay down credit facility with asset sale funds

By Wendy Van Sickle

Columbus, Ohio, Oct. 9 – Compass Production Partners plans to pay down borrowings outstanding under its credit facility with proceeds from its pending sale of $160 million of assets, according to a Friday press release.

Compass’ sale of its Holly, Waskom and Danville assets is expected to close in the company’s current fiscal quarter.

Based in Addison, Texas, Compass owns and operates oil and gas properties in the Permian Basin of West Texas, East Texas and North Louisiana.

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