OKLAHOMA CITY, Oct. 1, 2012 (GLOBE NEWSWIRE) -- PostRock Energy Corporation (Nasdaq:PSTR) ("PostRock" or the "Company") today announced that on Friday, September 28, 2012, it sold PostRock KPC Pipeline, LLC ("KPC") to MV Pipelines, LLC ("MV Pipelines") for $53.5 million in cash. Of this amount, $500,000 will be placed in escrow pending cleanup of a former KPC site. PostRock may receive additional payments of $1 million a year in each of the next four years if KPC's EBITDA (as defined in the agreement) exceeds a target amount. The sale is subject to a working capital adjustment. After approximately $2 million in estimated transaction costs, the Company will record a loss on the sale of approximately $6 million.
PostRock Sells KPC
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