Energy Corp. calls 9½% notes, to pay down revolver

By Jennifer Chiou

New York, June 14 -Energy Corp. of America said it will redeem its $92 million of 9½% senior subordinated notes on June 22 and repay borrowings under its revolving credit facility using proceeds of a $155 million term royalty conveyance.

Energy Corp.'s subsidiary Eastern American Energy Corp. transferred a 20-year term royalty interest in various oil and gas properties in West Virginia, Kentucky and Pennsylvania to Black Stone Acquisitions Partners II-B, LP and Hatfield Royalty, LP.

Remaining proceeds will be used for general corporate purposes.

Charleston, W. Va.-based Energy Corp. is a privately held oil and gas exploration and production company.

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