Monterey Oil Company
| Company Deal | 339,733 shares common stock |
|---|---|
| Transaction Type | Common Stock |
| Deal Description | Monterey Oil Company used the net proceeds from this transaction to prepay in full its bank indebtedness under a revolving credit agreement. The proceeds of the bank loan were used to acquire property from B-L and Associates, Inc. The properties in the acquisition included eight leases in Scurry and Upton Counties, Texas. |