Citizen Energy will use $153 million of existing facility for acquisition

Chicago, Oct. 12 – Citizen Energy will use $153 million of an existing revolver for a bolt-on acquisition for gas infrastructure within its existing footprint from a non-disclosed seller, according to a press release.

The company will draw on its revolver, which was upsized to $850 million prior to the transaction.

Closing is expected in the fourth quarter and is subject to customary conditions and closing price adjustments.

Schaper Energy Consulting acted as technical advisor and Shearman & Sterling served as legal counsel for Citizen Energy on the transaction.

Tulsa-based Citizen Energy is an oil and natural gas company.

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