OGJ editors
HOUSTON, Dec. 17 -- Chaparral Energy Inc. has called off a merger agreement between its subsidiary, Chaparral Exploration LLC, and Edge Petroleum Corp.
The agreement provides for both parties to terminate a merger agreement dated July 14. Chaparral planned to acquire Edge Petroleum of Houston and become a public company.
Chaparral of Oklahoma City and Edge agreed to terminate the merger following their conclusion that there was no reasonable expectation all closing conditions could be met by Dec. 31.
Chaparral is an independent whose primary producing assets are in the US Midcontinent and the Permian basin.