LSB Industries Announces Acquisition of Natural Gas Working Interest for $49M

LSB Industries LXU, today announced that as a part of the Chemical Business hedging strategy to protect against rising natural gas prices, a subsidiary within our Chemical Business closed an acquisition of a working interest in certain natural gas properties at a cost of $49 million. The acquisition included an approximate 7.7% average working interest within the Marcellus Shale, located in Wyoming County, Pennsylvania. The purchase includes interests in 14 proved producing natural gas wells, 7 proved non-producing natural gas wells, and 36 proved undeveloped future drilling locations identified on the leasehold. We expect to spend $38 to $40 million from the expected cash flows from the producing wells for See full press release