PostRock uses proceeds from $12.9 million sale to pay down revolver

By Caroline Salls

Pittsburgh, Jan. 5 – PostRock Energy Corp. used the net proceeds from the $12.9 million sale of its Oklahoma assets to Jericho Buckmanville Oil LLC to pay down revolving credit facility debt, according to an 8-K filed Tuesday with the Securities and Exchange Commission.

The sale closed on Dec. 30.

As previously reported, PostRock hired Evercore Group LLC in February 2015 to assist the board of directors in evaluating its strategic alternatives which include, merging or selling PostRock and/or selling operating assets. The company said this transaction is a result of that evaluation.

PostRock is an oil and natural gas company based in Oklahoma City.

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