Pardee Resources Company announced that it has entered into a definitive agreement to sell approximately 2,465 acres of surface and mineral property in West Virginia for approximately $57 million.
The transaction values the property at $23,000 per acre and includes both surface and mineral interests. Based on the acreage involved, the aggregate consideration is expected to total about $57 million before any customary adjustments.
The agreement represents a notable potential monetization of Pardee Resources’ West Virginia property holdings. The company said the sale remains subject to customary closing conditions, transaction adjustments, and the satisfaction of certain contingencies.
Pardee Resources expects the transaction to close during the fourth quarter of 2026. However, the company noted that completion of the deal is not guaranteed because some of the closing conditions are outside of its control.
The company also said it is currently unable to provide additional details about the buyer, intended use of the property, or other transaction terms. Pardee Resources plans to update shareholders if and when the transaction closes or if the agreement is terminated.
If completed, the sale would provide Pardee Resources with significant proceeds from the disposition of surface and mineral property in West Virginia. The transaction also reflects the continued value of the company’s land and mineral asset base, particularly in markets where acreage with both surface and subsurface rights can carry strategic value.
Pardee Resources emphasized that, while the agreement has been signed, the deal remains contingent and subject to final closing. Until those conditions are satisfied, the transaction should not be considered completed.
