Houston-based WildHorse Resource Development Corp. (NYSE: WRD) is selling its North Louisiana assets to an undisclosed third party for about $217 million.

The deal is expected to close on or around March 30, and WildHorse could receive up to $35 million in contingent payments, depending on the number of wells the buyer spuds on the divested property over the next four years.

The assets, which are mainly in the Webster, Claiborne, Lincoln, Jackson and Ouachita parishes of Louisiana, include about…

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