Recovery Energy Closes Deal with Private Company; Acquires Rights on 6,300-Acre Undeveloped Leasehold Acreage


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Recovery Energy, Inc. ( RECV ) has closed on its previously announced agreement with a private company granting a 4-year lease for the deep rights on approximately 6,300 net acres of undeveloped leasehold acreage in the DJ Basin.

Gross proceeds were approximately $1.5 million.

RECV continues to own oil and gas leasehold rights to approximately 140,000 gross acres, approximately 125,000 net acres, in the DJ Basin.

Shares of RECV are steady in pre-market trading at $2.05, within a 52-week range of $1.40 - $4.95.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

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