Bayou Bend Petroleum has entered into a non-binding letter of intent for the sale of substantially all of its US subsidiaries and/or assets to a private company based in Houston, Texas.
Offshore staff
VANCOUVER, Canada -- Bayou Bend Petroleum has entered into a non-binding letter of intent for the sale of substantially all of its US subsidiaries and/or assets to a private company based in Houston, Texas. The purchase price for the transaction is $18 million, payable in cash at closing.
The transaction is subject to the negotiation and execution of a definitive agreement, due diligence, board and shareholder approval as well as all requisite regulatory approvals.
