RADNOR, PA — Pardee Resources Company (OTC: PDER) has agreed to sell approximately 2,465 acres of surface and mineral property in West Virginia for about $57 million, a transaction that would convert a significant landholding into cash if it closes as expected later this year.
The company disclosed that the property is being sold for $23,000 per acre under a definitive agreement, valuing the transaction at approximately $57 million.
The sale remains subject to customary closing conditions and other contingencies, and Pardee cautioned that factors outside its control could prevent the deal from being completed.
The transaction is expected to close during the fourth quarter of 2026, according to the company.
Pardee stated that it is unable to identify the buyer, disclose the location of the acreage within West Virginia, or provide details regarding the property’s mineral assets at this time.
The company also declined to provide additional information about the transaction, stating it will update shareholders if the sale closes or is terminated.
The proposed divestiture would represent a notable asset sale for the Radnor-based natural resources company, which owns surface, mineral, timber, and energy-related properties across several states.
Because the transaction remains contingent on the satisfaction of specified conditions, there is no assurance the sale will be completed, the company noted.
Support the local news that supports Chester County. MyChesCo delivers reliable, fact-based reporting and essential community resources—free for everyone. If you value that, click here to become a patron today.