Porter Hedges Advises Davis Petroleum in its Pending Merger with Yuma Energy
Porter Hedges is representing Davis Petroleum Acquisition Corp. ("Davis") in an all-stock merger agreement with Yuma Energy, Inc. ("Yuma") announced earlier this year by the companies.
Under the terms of the Merger Agreement, upon completion of the transaction, Davis will become a wholly owned subsidiary of Yuma, and the former Davis stockholders will hold approximately 61% of the common stock of Yuma. The transaction is subject to stockholder approval of both companies, including the holders of preferred stock, as well as other customary approvals, including authorization to list the newly issued shares of common stock on the NYSE MKT.
Davis Petroleum Acquisition Corp. is an independent Houston-based oil and gas company focused on acquisition, exploration and development of domestic oil and gas properties onshore in south Louisiana, the upper Texas Gulf Coast, and east Texas.
Yuma Energy, Inc. is an independent Houston-based exploration and production company focused on the acquisition, development, and exploration for conventional and unconventional oil and natural gas resources primarily in the U.S. Gulf Coast and California.