Article above explains that Resolute sold Aneth to cut costs, strengthen their balance sheet and focus their attention on their Delaware operations.
Transaction was below the lowest expectations of analyst that valued Aneth at between $200 to $325million. So it seems we got a reasonably good deal at $195million.
Now all we need is a turnaround in the oil price...
ELK Price at posting:
6.8¢ Sentiment: Hold Disclosure: Held
