Cubic nears closing on Gastar East Texas acquisition

Cubic Energy Inc., Dallas, said it has signed certain closing documents with respect to the previously announced acquisition of all of the East Texas assets of Gastar Exploration Texas LP.

The net cash purchase price, anticipated to be $39.1 million, is expected to be finalized and paid to Gastar on or before Oct. 2.

Cubic Energy’s operations are concentrated mainly in the Cotton Valley and Haynesville shale play in northwest Louisiana.