Debt Financing

ECS raises $36.0MM of debt to fund purchase of notes at a significant discount from existing creditors. Company had no equity value prior to recapitalization.

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Equity Financing

ECS raises $27.0MM of equity from EnCap based upon post-restructuring equity valuation.

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M&A

ECS identifies negotiated acquisition opportunity in new core area targeted by Stroud, the Barnett Shale, and advises the company on its first significant acquisition in this area.