Crescent Point Announces Strategic Torquay Consolidation Acquisition of CanEra Energy Corp. and Upwardly Revised 2014 Guidance
Crescent Point Energy Corp. ("Crescent Point" or the "Company") (CPG.TO)(CPG) is pleased to announce that it has entered into an arrangement agreement (the "CanEra Arrangement") to acquire all of the issued and outstanding shares of CanEra Energy Corp. ("CanEra"), a privately held southeast Saskatchewan oil and gas producer with a large Torquay land position and production of approximately 10,000 boe/d (the "CanEra Assets"). Total consideration for CanEra is approximately $1.1 billion, including approximately 12.9 million Crescent Point shares, $192 million of cash consideration and the assumption of approximately $348 million of net debt.
- Published: 23 April 2014
- Written by Editor