Imperial Announces Closing of Debt Settlement Agreement
Imperial Petroleum, Inc., an oil and natural gas exploration and production company headquartered in Evansville, Indiana, announced today that it has closed the settlement agreement with its senior lender and as part of the closing, completed the sale of certain assets to Valley Falls Company for an undisclosed amount. The terms of the sale to Valley Falls are confidential.
Jeffrey T. Wilson, President of Imperial said of the closing, “With the closing of the debt settlement agreement, we have re-positioned the Company for new growth opportunities and new acquisitions. We will be focusing our immediate efforts on the properties we continue to own and operate in south Louisiana to improve oil and natural gas production and cash flow from these wells as we seek new acquisitions.”
