Pardee Resources Company Divests Pennsylvania Oil and Gas Interests | PDER Stock News

Apr 16, 2025

Pardee Resources Company (OTC: PDER) has sold approximately 8,800 acres of oil and gas interests in Pennsylvania.
The divestment was completed for $10 million, focusing on non-revenue producing assets.
The transaction is part of a strategic move to enhance the company's balance sheet.

Pardee Resources Company (OTC: PDER) has finalized the sale of its oil and gas interests located in Elk and Cameron Counties, Pennsylvania. The company received $10 million for the approximately 8,800 acres of land, which were deemed non-strategic and non-revenue producing. Originally acquired over a century ago, these assets were considered by the company as not contributing to their current operational objectives.

According to Carleton P. Erdman, President and CEO of Pardee Resources, this strategic divestment aims to improve the company's financial position by monetizing legacy assets that do not align with the company's future growth strategy. By shedding these non-performing assets, Pardee Resources seeks to streamline its operations and potentially explore more strategic investments.

Disclosures

I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

Research Tools

All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Discussion Board

Product

Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Instant Alerts Mobile App 中文

Education

Financial Glossary Tutorials FAQ Schedule Free Session Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation

Company

About GuruFocus Career Contact Us Advertise Site Map Term of Use Privacy Policy Referral Program Partner Program

Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey

Disclaimers

GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.