Encore to repay some revolver borrowings using asset sale proceeds

By Sara Rosenberg

New York, May 16 - Encore Acquisition Co. plans to pay down debt under its revolving credit facility using proceeds from the sale of certain oil and natural gas properties in the Mid-Continent to a private company for $300 million, according to a company news release.

Encore is a Fort Worth, Texas, developer of onshore North American oil and natural gas reserves.

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