Businessweek

Caerus%20Oil%20and%20Gas%20LLC%20entered%20into%20an%20agreement%20to%20acquire%20Piceance%2C%20NECO%2C%20and%20Colorado%20Oil%20and%20Gas%20Properties%2C%20Leasehold%20Mineral%20Interest%20from%20PDC%20Energy%2C%20Inc.%20%28NasdaqGS%3APDCE%29%20for%20approximately%20%24200%20million%20in%20cash%20on%20February%204%2C%202013.%20The%20purchase%20price%20is%20subject%20to%20customary%20closing%20adjustments%20including%20adjustments%20based%20on%20title%20and%20environmental%20diligence%20to%20be%20conducted%20by%20Caerus.%20PDC%20Energy%20will%20sell%20Piceance%20Basin%20oil%20and%20gas%20properties%20for%20aggregate%20cash%20consideration%20of%20approximately%20%247.8%20million.%20The%20purchase%20agreement%20contains%20certain%20termination%20rights%20for%20both%20PDC%20Energy%2C%20Inc.%20and%20Caerus%20Oil%20and%20Gas%20LLC.%20In%20addition%2C%20if%20closing%20does%20not%20occur%20by%20August%201%2C%202013%2C%20the%20purchase%20agreement%20automatically%20terminates.%20Caerus%20has%20private%20equity%20backing%20from%20Oaktree%20Capital%20Management%20LP%20and%20Anschutz%20Investment%20Co.%0D%0A%0D%0AThe%20deal%20is%20subject%20to%20approval%20the%20consent%20of%20certain%20third%20parties%20to%20transfer%20of%20certain%20of%20the%20assets.%20The%20deal%20is%20expected%20to%20close%20in%20the%20second%20quarter%20of%202013.%20Jon%20Hughes%2C%20Andy%20Rapp%20and%20Brad%20Marvinat%20of%20Petrie%20Partners%20LLC%20acted%20as%20the%20advisors%20for%20PDC%20Energy%2C%20Inc.%20on%20the%20sale.%20Doug%20Bland%2C%20Danielle%20Mangrum%2C%20Mark%20Wang%2C%20Tan%20Lu%2C%20Talia%20Jarvis%2C%20Larry%20Nettles%2C%20Sean%20Becker%2C%20Todd%20Way%2C%20Brian%20Moss%2C%20Jim%20Penny%2C%20John%20West%2C%20Stephen%20Jacobson%2C%20Will%20Burns%2C%20Guy%20Gribov%20and%20Julia%20Pashina%20of%20Vinson%20%26%20Elkins%20LLP%20acted%20as%20legal%20advisors%20for%20Caerus%20Oil%20and%20Gas%20LLC.%20Kristin%20Lentz%2C%20Andrew%20Fiske%2C%20Greg%20Danielson%20and%20Lamont%20Larsen%20of%20Davis%20Graham%20%26%20Stubbs%20LLP%20acted%20as%20legal%20advisors%20for%20PDC%20Energy%2C%20Inc.

Caerus%20Oil%20and%20Gas%20LLC%20entered%20into%20an%20agreement%20to%20acquire%20Piceance%2C%20NECO%2C%20and%20Colorado%20Oil%20and%20Gas%20Properties%2C%20Leasehold%20Mineral%20Interest%20from%20PDC%20Energy%2C%20Inc.%20%28NasdaqGS%3APDCE%29%20for%20approximately%20%24200%20million%20in%20cash%20on%20February%204%2C%202013.%20The%20purchase%20price%20is%20subject%20to%20customary%20closing%20adjustments%20including%20adjustments%20based%20on%20title%20and%20environmental%20diligence%20to%20be%20conducted%20by%20Caerus.%20PDC%20Energy%20will%20sell%20Piceance%20Basin%20oil%20and%20gas%20properties%20for%20aggregate%20cash%20consideration%20of%20approximately%20%247.8%20million.%20The%20purchase%20agreement%20contains%20certain%20termination%20rights%20for%20both%20PDC%20Energy%2C%20Inc.%20and%20Caerus%20Oil%20and%20Gas%20LLC.%20In%20addition%2C%20if%20closing%20does%20not%20occur%20by%20August%201%2C%202013%2C%20the%20purchase%20agreement%20automatically%20terminates.%20Caerus%20has%20private%20equity%20backing%20from%20Oaktree%20Capital%20Management%20LP%20and%20Anschutz%20Investment%20Co.%0D%0A%0D%0AThe%20deal%20is%20subject%20to%20approval%20the%20consent%20of%20certain%20third%20parties%20to%20transfer%20of%20certain%20of%20the%20assets.%20The%20deal%20is%20expected%20to%20close%20in%20the%20second%20quarter%20of%202013.%20Jon%20Hughes%2C%20Andy%20Rapp%20and%20Brad%20Marvinat%20of%20Petrie%20Partners%20LLC%20acted%20as%20the%20advisors%20for%20PDC%20Energy%2C%20Inc.%20on%20the%20sale.%20Doug%20Bland%2C%20Danielle%20Mangrum%2C%20Mark%20Wang%2C%20Tan%20Lu%2C%20Talia%20Jarvis%2C%20Larry%20Nettles%2C%20Sean%20Becker%2C%20Todd%20Way%2C%20Brian%20Moss%2C%20Jim%20Penny%2C%20John%20West%2C%20Stephen%20Jacobson%2C%20Will%20Burns%2C%20Guy%20Gribov%20and%20Julia%20Pashina%20of%20Vinson%20%26%20Elkins%20LLP%20acted%20as%20legal%20advisors%20for%20Caerus%20Oil%20and%20Gas%20LLC.%20Kristin%20Lentz%2C%20Andrew%20Fiske%2C%20Greg%20Danielson%20and%20Lamont%20Larsen%20of%20Davis%20Graham%20%26%20Stubbs%20LLP%20acted%20as%20legal%20advisors%20for%20PDC%20Energy%2C%20Inc.