News

Pardee Resources Company (OTC: PDER) (the “Company”) announced today that it has implemented a restructuring plan to better align its costs with current energy market conditions. The Company estimates that the restructuring charges will be $550,000 in 2015 and $150,000 in 2016.  The Company also estimates that this restructuring plan will reduce its annual expenses […]

Pardee Resources Company (OTC: PDER) announced today that its subsidiary, Pardee & Curtin Timberlands LLC (“Pardee”), recently closed on the sale of its sawmill located in Curtin, West Virginia to The Jim C. Hamer Company (“Hamer”) for an undisclosed amount. Hamer has operated this sawmill under lease since 1984. Pardee also entered into a 10-year […]

Pardee Resources Company (OTC: PDER) (the “Company”) reports that a subsidiary recently acquired approximately 6,300 acres of surface, timber and mineral interests located in central West Virginia through the acquisition of 100% of the outstanding stock of the property’s owner. The $7 million investment was funded through available cash and bank financing. “This new acreage […]

Pardee Resources Company (OTC: PDER) (the “Company”) reports that a subsidiary has recently closed a transaction for the acquisition of 9,741 acres of softwood timberlands  located in Culpeper, Fauquier, Fluvanna, Greene, Orange, Spotsylvania and Westmoreland Counties, Virginia. The Company invested $17 million for the acquisition of these properties, which amount was funded through available cash […]

Pardee Resources Company (OTC: PDER) (the “Company”) reports that its subsidiary, Pardee Agricultural Properties LLC, recently closed on the purchase of a 40-acre farmland tract located in Kern County, at the southern end of California’s Central Valley.  The tract will be developed and managed for specialty table grapes by a local, multi-generational agricultural operating company.  […]